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Corporate income tax and deferred taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Corporate income tax and deferred taxes [Abstract] |
Disclosure of current and deferred tax expense and tax paid [Table Text Block] |
(Million euro) | 2024 DEC | 2023 DEC | 2022 DEC
Tax expense of the year | (145) |  | (115) |  | (30) |
Current tax expense | (107) |  | (146) |  | (64) |
Deferred tax expense | (28) |  | 65 |  | 42 |
Withholdings in a foreign operation | (36) |  | (73) |  | (51) |
Change to the prior-year tax evaluation and other | 26 |  | 39 |  | 43 |
Disclosure of corporate income tax expense for the year and the applicable tax rate [Table Text Block] |
(Million euro) | 2024 DEC | 2023 DEC | 2022 DEC
Profit/(Loss) before tax on continuing operations | 3,621 |  | 610 |  | 271 |
Results of associates | (239) |  | (215) |  | (164) |
Pass-through tax rules (USA & Canada) | (147) |  | (93) |  | (71) |
Divestments completed during the year (note 1.1.5) | (2,814) |  | — |  | — |
Profit/(Loss) before tax on continuing operations adjusted | 421 |  | 302 |  | 36 |
Theoretical income tax expense (25.8%) | (109) |  | (78) |  | (9) |
Recognition of previously unrecognized tax losses / Unrecognized tax losses of the year | (16) |  | (5) |  | (38) |
Ruling related to Royal Decree-Law 3/2016 (Spain) | 31 |  | — |  | — |
Withholding tax | (36) |  | (73) |  | (51) |
Other adjustments | (15) |  | 40 |  | 68 |
Income Tax expense | (145) |  | (115) |  | (30) |
Effective tax rate (%) | 4.0 | % | 18.8 | % | 11.1 | %
Disclosure of deferred taxes [text block] |
ASSETS |  |  |  |  |  |
(Million euro) | 2023 | Prior years, transfers and other | Charged/credited to income statement | Charged/credited to equity | Foreign exchange effect | 2024
Tax credits | 503 |  | (40) |  | 48 |  | — |  | 26 |  | 537 |
Differences between tax and accounting criteria | 422 |  | (93) |  | 38 |  | 3 |  | 7 |  | 377 |
Equity measurement adjustments | 48 |  | 2 |  | 4 |  | 143 |  | — |  | 197 |
Other items | 33 |  | — |  | 15 |  | — |  | 1 |  | 48 |
TOTAL | 1,006 |  | (131) |  | 105 |  | 145 |  | 34 |  | 1,159 |
LIABILITIES |  |  |  |  |  |
(Million euro) | 2023 | Prior years, transfers and other | Charged/credited to income statement | Charged/credited to equity | Foreign exchange effect | 2024
Deferred taxes on goodwill | 22 |  | (1) |  | 1 |  | — |  | — |  | 22 |
Deferred fair value adjustments to acquisitions | 308 |  | (17) |  | (7) |  | — |  | 17 |  | 301 |
Differences between tax and accounting criteria | 561 |  | (169) |  | 119 |  | 2 |  | 35 |  | 548 |
Equity measurement adjustments | 69 |  | 1 |  | 5 |  | 156 |  | 2 |  | 234 |
Other items | 126 |  | (9) |  | 15 |  | — |  | 2 |  | 134 |
TOTAL | 1,086 |  | (194) |  | 133 |  | 158 |  | 57 |  | 1,239 |
ASSETS |  |  |  |  |  |
(Million euro) | 2022 | Prior years, transfers and other | Charged/credited to income statement | Charged/credited to equity | Foreign exchange effect | 2023
Tax credits | 370 |  | 26 |  | 119 |  | — |  | (13) |  | 503 |
Differences between tax and accounting criteria | 274 |  | 46 |  | 87 |  | 4 |  | 11 |  | 422 |
Equity measurement adjustments | 86 |  | (1) |  | 11 |  | (47) |  | — |  | 48 |
Other items | 55 |  | 9 |  | (31) |  | 1 |  | — |  | 33 |
TOTAL | 784 |  | 80 |  | 186 |  | (42) |  | (2) |  | 1,006 |
LIABILITIES |  |  |  |  |  |
(Million euro) | 2022 | Prior years, transfers and other | Charged/credited to income statement | Charged/credited to equity | Foreign exchange effect | 2023
Deferred taxes on goodwill | 21 |  | — |  | 1 |  | — |  | — |  | 22 |
Deferred fair value adjustments to acquisitions | 315 |  | 13 |  | (12) |  | — |  | (8) |  | 308 |
Differences between tax and accounting criteria | 378 |  | 65 |  | 131 |  | — |  | (13) |  | 561 |
Equity measurement adjustments | 64 |  | 2 |  | 1 |  | 3 |  | (1) |  | 69 |
Other items | 145 |  | (22) |  | — |  | — |  | 2 |  | 126 |
TOTAL | 924 |  | 58 |  | 121 |  | 3 |  | (20) |  | 1,086 |
Disclosure tax losses carry forward pending to be offset [Table Text Block] |
2024 |  |  |
(Million euro) Country | Tax-loss carryforwards | Limitation period | Maximum tax credit | Tax credit recognized
US tax consolidated group | 2,138 |  | No expiry date | 493 |  | 443 |
Spanish tax consolidated group | 303 |  | No expiry date | 76 |  | 23 |
Netherlands tax consolidated group | 288 |  | No expiry date | 74 |  | 10 |
UK | 218 |  | No expiry date | 55 |  | — |
Turkey | 107 |  | 2025-2029 | 27 |  | — |
Australia | 30 |  | No expiry date | 9 |  | — |
Canada | 28 |  | 2035-2045 | 7 |  | — |
Other | 579 |  | 2024-No expiry date | 146 |  | 41 |
Total | 3,691 |  |  | 887 |  | 517 |
2023 |  |  |  |
(Million euro) Country | Tax-loss carryforwards | Limitation period | Maximum tax credit | Tax credit recognized
US tax consolidated group | 1,790 |  | No expiry date | 409 |  | 376 |
Spanish tax consolidated group | 585 |  | No expiry date | 146 |  | 36 |
Netherlands tax consolidated group | 227 |  | No expiry date | 59 |  | — |
UK | 201 |  | No expiry date | 50 |  | 5 |
Canada | 106 |  | 2024-2044 | 28 |  | 20 |
Turkey | 81 |  | 2024-2028 | 20 |  | — |
Other | 559 |  | 2024 - No expiry date | 141 |  | 36 |
Total | 3,549 |  |  | 853 |  | 473 |

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