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Corporate income tax and deferred taxes (Tables)

12 Months Ended

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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The disclosure of deferred taxes. [Refer: Deferred tax liabilities; Deferred tax assets]

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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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