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Goodwill (Tables) | 12 Months Ended
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Dec. 31, 2024
Intangible Assets [Abstract] |
Schedule of Goodwill by Group Segment | The cost, accumulated amortization and impairment losses of intangible assets at December 31, 2024 and 2023 are as follows:
Balance at December 31, 2024
Millions of euros | Cost | Accumulated amortization | Impairment losses | Intangible assets
Service concession arrangements and licenses | 15,018 |  | (8,666) |  | (685) |  | 5,667 |
Software | 18,442 |  | (15,300) |  | (38) |  | 3,104 |
Customer base | 2,265 |  | (2,114) |  | — |  | 151 |
Trademarks | 905 |  | (718) |  | — |  | 187 |
Other intangible assets | 794 |  | (726) |  | (4) |  | 64 |
Intangible assets in process | 702 |  | — |  | — |  | 702 |
Total intangible assets | 38,126 |  | (27,524) |  | (727) |  | 9,875 |
Balance at December 31, 2023
Millions of euros | Cost | Accumulated amortization | Impairment losses | Intangible assets
Service concession arrangements and licenses | 16,056 |  | (9,061) |  | (109) |  | 6,886 |
Software | 17,851 |  | (14,753) |  | (9) |  | 3,089 |
Customer base | 4,166 |  | (3,780) |  | — |  | 386 |
Trademarks | 958 |  | (723) |  | — |  | 235 |
Other intangible assets | 867 |  | (805) |  | (4) |  | 58 |
Intangible assets in process | 724 |  | — |  | (8) |  | 716 |
Total intangible assets | 40,622 |  | (29,122) |  | (130) |  | 11,370 |
The movement in goodwill assigned to each Group segment was as follows:
2024
Millions of euros | Balance at 12/31/2023 | Additions | Disposals | Write-offs | Transfers | Exchange rate impact | Balance at 12/31/2024
Telefónica Spain | 4,291 |  | — |  | — |  | — |  | — |  | — |  | 4,291 |
Telefónica Brazil | 8,076 |  | 28 |  | — |  | — |  | — |  | (1,364) |  | 6,740 |
Telefónica Germany | 4,386 |  | — |  | — |  | — |  | — |  | — |  | 4,386 |
Telefónica Hispam | 1,108 |  | — |  | (16) |  | (623) |  | — |  | (51) |  | 418 |
Others | 847 |  | — |  | — |  | (243) |  | — |  | 22 |  | 626 |
Total | 18,708 |  | 28 |  | (16) |  | (866) |  | — |  | (1,393) |  | 16,461 |
2023
Millions of euros | Balance at 12/31/2022 | Additions | Disposals | Write-offs | Transfers | Exchange rate impact | Balance at 12/31/2023
Telefónica Spain | 4,291 |  | — |  | — |  | — |  | — |  | — |  | 4,291 |
Telefónica Brazil | 7,752 |  | 5 |  | — |  | — |  | — |  | 319 |  | 8,076 |
Telefónica Germany | 4,386 |  | — |  | — |  | — |  | — |  | — |  | 4,386 |
Telefónica Hispam | 1,215 |  | — |  | — |  | (58) |  | (36) |  | (13) |  | 1,108 |
Others | 827 |  | 11 |  | — |  | — |  | — |  | 9 |  | 847 |
Total | 18,471 |  | 16 |  | — |  | (58) |  | (36) |  | 315 |  | 18,708 |
Schedule of Allocation of Goodwill to the Different Cash-Generating Units (CGUs) | In order to test for impairment, goodwill was allocated to the different cash-generating units (CGUs), which are grouped into the following reportable operating segments:
Millions of euros | 12/31/2024 | 12/31/2023
Telefónica Spain | 4,291 |  | 4,291 |
Telefónica Brazil | 6,740 |  | 8,076 |
Telefónica Germany | 4,386 |  | 4,386 |
Telefónica Hispam | 418 |  | 1,108 |
Colombia | 136 |  | 164 |
Ecuador | 79 |  | 75 |
Chile | 179 |  | 615 |
Peru | — |  | 229 |
Uruguay | 22 |  | 23 |
Others T. Hispam | 2 |  | 2 |
Other companies | 626 |  | 847 |
Telefónica Tech UK & Ireland | 268 |  | 438 |
BE-terna | 230 |  | 282 |
Others | 128 |  | 127 |
TOTAL | 16,461 |  | 18,708 |
The discount rates applied to the cash flow projections in 2024 and 2023 for the main CGUs are as follows:
| 2024 | 2023
Discount rate in local currency | Before tax | After-tax | Before tax | After-tax
Spain | 8.6% | 6.6% | 9.1% | 7.0%
Brazil | 13.9% | 11.5% | 14.8% | 12.0%
Germany | 8.0% | 5.5% | 8.4% | 5.8%
The perpetuity growth rates applied to the cash flow projections in 2024 and 2023 for the main CGUs are as follows:
Perpetuity growth rate in local currency | 2024 | 2023
Spain | 0.8% | 0.8%
Brazil | 4.0% | 4.0%
Germany | 1.0% | 1.0%
Schedule of Sensitivity to Changes in Assumptions | The Group performs a sensitivity analysis of the impairment test by considering reasonable changes in the main assumptions used in the test. For the main CGU, the following maximum increases or decreases were assumed, expressed in percentage points:
Changes in key assumptions, In percentage points | Spain |  | Germany | Brazil
Financial variables |  |  |  |
Discount rate | +/-0.5 |  | +/-0.5 | +/-1
Perpetuity growth rates | +/-0.25 |  | +/-0.25 | +/-0.5
Long-term operating variables |  |  |  |
Long-term margin of operating results before depreciation and amortization | +/-1.75 |  | +/-1.5 | +/-2
Ratio of CapEx/Revenues | +/-0.875 |  | +/-0.75 | +/-1

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