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Lease Liabilities

12 Months Ended

Dec. 31, 2024

Disclosure of leases [Abstract]

Lease Liabilities

Lease liabilities

The evolution of lease liabilities in 2024 and 2023 were as follows:

Millions of euros			Lease liabilities
Balance at 12/31/2023			8,947
First application of IAS 21			4
Additions			2,082
Principal and interests payments			(2,647)
Principal payments (Note 28)			(2,143)
Interests payments			(504)
Disposals			(70)
Business combinations			2
Accrued interests			512
Translation differences and inflation adjustments			(531)
Transfers and others			4
Balance at 12/31/2024			8,303

Millions of euros			Lease liabilities
Balance at 12/31/2022			8,677
Additions			2,382
Principal and interests payments			(2,559)
Principal payments (Note 28)			(2,114)
Interests payments			(445)
Disposals			(138)
Accrued interests			435
Translation differences and inflation adjustments			62
Transfers and others			88
Balance at 12/31/2023			8,947

"Additions" includes fixed asset sale and leaseback transactions, which amounted to 12 million euros in 2024 (21 million euros in 2023). The gains recorded in 2024 and 2023 for sale and leaseback transactions amounted to 17 million euros and 105 million euros, respectively (see Note 26).

There are commitments for leases not started at December 31, 2024 amounting to 2,606 million euros, mainly related to the sites construction agreement between Telefónica Germany GmbH and Telxius Towers Germany GmbH (at December 31, 2023 1,117 million euros).

The maturity schedule of lease liabilities at December 31, 2024 is as follows:

Millions of euros
			Current			Non-Current
Maturity			2025			2026			2027			2028			2029			Subsequent years			Non-current total			Total
Lease liabilities			2,339			1,666			1,401			1,179			983			1,890			7,119			9,458

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- Definition

The entire disclosure for leases.

+ References

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