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Consolidated Statements of Changes in Equity - EUR (€) € in Millions | Total | Increase (decrease) due to changes in accounting policy required by IFRSs, cumulative effect at date of initial application | Opening balance after adjustment, cumulative effect at date of initial application | Total | Total Increase (decrease) due to changes in accounting policy required by IFRSs, cumulative effect at date of initial application | Total Opening balance after adjustment, cumulative effect at date of initial application | Share capital | Share capital Opening balance after adjustment, cumulative effect at date of initial application | Share premium | Share premium Opening balance after adjustment, cumulative effect at date of initial application | Treasury Shares | Treasury Shares Opening balance after adjustment, cumulative effect at date of initial application | Other equity instru-ments | Other equity instru-ments Opening balance after adjustment, cumulative effect at date of initial application | Legal reserve | Legal reserve Opening balance after adjustment, cumulative effect at date of initial application | Retained earnings | Retained earnings Increase (decrease) due to changes in accounting policy required by IFRSs, cumulative effect at date of initial application | Retained earnings Opening balance after adjustment, cumulative effect at date of initial application | Fair value finan-cial assets | Fair value finan-cial assets Opening balance after adjustment, cumulative effect at date of initial application | Hedges | Hedges Opening balance after adjustment, cumulative effect at date of initial application | Equity of associa-tes and others | Equity of associa-tes and others Opening balance after adjustment, cumulative effect at date of initial application | Translation differences | Translation differences Increase (decrease) due to changes in accounting policy required by IFRSs, cumulative effect at date of initial application | Translation differences Opening balance after adjustment, cumulative effect at date of initial application | Non-controlling interests | Non-controlling interests Opening balance after adjustment, cumulative effect at date of initial application
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Financial position, beginning balance at Dec. 31, 2021 | € 28,684 |  |  | € 22,207 |  |  | € 5,779 |  | € 4,233 |  | € (547) |  | € 7,550 |  | € 1,038 |  | € 26,091 |  |  | € (547) |  | € 438 |  | € 64 |  | € (21,892) |  |  | € 6,477 |
Profit (loss) for the year | 2,319 |  |  | 2,011 |  |  |  |  |  |  |  |  |  |  |  |  | 2,011 |  |  |  |  |  |  |  |  |  |  |  | 308 |
Other comprehensive income (loss) for the year | 1,908 |  |  | 1,508 |  |  |  |  |  |  |  |  |  |  |  |  | 48 |  |  | 98 |  | 287 |  | (94) |  | 1,169 |  |  | 400 |
Total comprehensive income (loss) for the year | 4,227 |  |  | 3,519 |  |  |  |  |  |  |  |  |  |  |  |  | 2,059 |  |  | 98 |  | 287 |  | (94) |  | 1,169 |  |  | 708 |
Dividends and distribution of profit (Note 17) | (1,478) |  |  | (1,067) |  |  | 135 |  |  |  |  |  |  |  | 21 |  | (1,223) |  |  |  |  |  |  |  |  |  |  |  | (411) |
Net movement in treasury shares | (364) |  |  | (364) |  |  |  |  |  |  | (342) |  |  |  |  |  | (22) |  |  |  |  |  |  |  |  |  |  |  |  |
Acquisitions and disposals of non-controlling interests and business combinations (Notes 2 and 17) | 781 |  |  | 936 |  |  |  |  |  |  |  |  |  |  |  |  | 936 |  |  |  |  |  |  |  |  |  |  |  | (155) |
Capital reduction | 0 |  |  |  |  |  | (139) |  | (409) |  | 548 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Undated deeply subordinated securities and notes mandatorily convertible (Note 17) | (201) |  |  | (201) |  |  |  |  |  |  |  |  |  |  |  |  | (201) |  |  |  |  |  |  |  |  |  |  |  |  |
Other movements | 59 |  |  | 58 |  |  |  |  |  |  |  |  |  |  |  |  | 58 |  |  |  |  |  |  |  |  |  |  |  | 1 |
Financial position, ending balance at Dec. 31, 2022 | 31,708 |  |  | 25,088 |  |  | 5,775 |  | 3,824 |  | (341) |  | 7,550 |  | 1,059 |  | 27,698 |  |  | (449) |  | 725 |  | (30) |  | (20,723) |  |  | 6,620 |
Profit (loss) for the year | (574) |  |  | (892) |  |  |  |  |  |  |  |  |  |  |  |  | (892) |  |  |  |  |  |  |  |  |  |  |  | 318 |
Other comprehensive income (loss) for the year | (43) |  |  | (273) |  |  |  |  |  |  |  |  |  |  |  |  | (26) |  |  | 148 |  | (412) |  | (20) |  | 37 |  |  | 230 |
Total comprehensive income (loss) for the year | (617) |  |  | (1,165) |  |  |  |  |  |  |  |  |  |  |  |  | (918) |  |  | 148 |  | (412) |  | (20) |  | 37 |  |  | 548 |
Dividends and distribution of profit (Note 17) | (2,043) |  |  | (1,698) |  |  |  |  |  |  |  |  |  |  |  |  | (1,698) |  |  |  |  |  |  |  |  |  |  |  | (345) |
Net movement in treasury shares | (221) |  |  | (221) |  |  |  |  |  |  | (186) |  |  |  |  |  | (35) |  |  |  |  |  |  |  |  |  |  |  |  |
Acquisitions and disposals of non-controlling interests and business combinations (Notes 2 and 17) | (1,579) |  |  | 0 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,579) |
Capital reduction | 0 |  |  | 0 |  |  | (25) |  | (73) |  | 98 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Undated deeply subordinated securities and notes mandatorily convertible (Note 17) | (239) |  |  | (239) |  |  |  |  |  |  |  |  |  |  |  |  | (239) |  |  |  |  |  |  |  |  |  |  |  |  |
Other movements | 87 |  |  | 87 |  |  |  |  |  |  |  |  |  |  |  |  | 87 |  |  |  |  |  |  |  |  |  |  |  |  |
Financial position, ending balance at Dec. 31, 2023 | 27,096 | € 142 | € 27,238 | 21,852 | € 142 | € 21,994 | 5,750 | € 5,750 | 3,751 | € 3,751 | (429) | € (429) | 7,550 | € 7,550 | 1,059 | € 1,059 | 24,895 | € (224) | € 24,671 | (301) | € (301) | 313 | € 313 | (50) | € (50) | (20,686) | € 366 | € (20,320) | 5,244 | € 5,244
Profit (loss) for the year | 209 |  |  | (49) |  |  |  |  |  |  |  |  |  |  |  |  | (49) |  |  |  |  |  |  |  |  |  |  |  | 258 |
Other comprehensive income (loss) for the year | (1,120) |  |  | (615) |  |  |  |  |  |  |  |  |  |  |  |  | 74 |  |  | 184 |  | 76 |  | 10 |  | (959) |  |  | (505) |
Total comprehensive income (loss) for the year | (911) |  |  | (664) |  |  |  |  |  |  |  |  |  |  |  |  | 25 |  |  | 184 |  | 76 |  | 10 |  | (959) |  |  | (247) |
Dividends and distribution of profit (Note 17) | (1,838) |  |  | (1,693) |  |  |  |  |  |  |  |  |  |  | 91 |  | (1,784) |  |  |  |  |  |  |  |  |  |  |  | (145) |
Net movement in treasury shares | (56) |  |  | (56) |  |  |  |  |  |  | 13 |  |  |  |  |  | (69) |  |  |  |  |  |  |  |  |  |  |  |  |
Acquisitions and disposals of non-controlling interests and business combinations (Notes 2 and 17) | (1,438) |  |  | 12 |  |  |  |  |  |  |  |  |  |  |  |  | 12 |  |  |  |  |  |  |  |  |  |  |  | (1,450) |
Capital reduction | 0 |  |  | 0 |  |  | (80) |  | (230) |  | 310 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Undated deeply subordinated securities and notes mandatorily convertible (Note 17) | (249) |  |  | (249) |  |  |  |  |  |  |  |  |  |  |  |  | (249) |  |  |  |  |  |  |  |  |  |  |  |  |
Other movements | 3 |  |  | 3 |  |  |  |  |  |  |  |  |  |  |  |  | 3 |  |  |  |  |  |  |  |  |  |  |  |  |
Financial position, ending balance at Dec. 31, 2024 | € 22,749 |  |  | € 19,347 |  |  | € 5,670 |  | € 3,521 |  | € (106) |  | € 7,550 |  | € 1,150 |  | € 22,609 |  |  | € (117) |  | € 389 |  | € (40) |  | € (21,279) |  |  | € 3,402 |

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