XML 69 R54.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Financial Risk Management and Financial Instruments (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Disclosure of detailed information about financial instruments [abstract] |
Summary of Liquidity Position in Terms of Available Cash and Cash Equivalents and Short Term Investments | The Group’s policy is to have a strong liquidity position in terms of available cash and cash equivalents, and short term investments.
| 2021 |  | 2020
| (in € millions)
Liquidity |  |  |
Short term investments | 756 |  |  | 596 |
Cash equivalents | 1,970 |  |  | 685 |
Cash at bank and on hand | 774 |  |  | 466 |
Liquidity position | 3,500 |  |  | 1,747 |
Disclosure Of Effect Of 10% Change In Currency |
2021 | SEK |  | USD
| (in € millions)
Increase/(decrease) in income before tax | (14) |  |  | 94 |
2020 | SEK |  | USD
| (in € millions)
(Increase)/decrease in loss before tax | (13) |  |  | 67 |
Summary of Notional Principal of Foreign Currency Exchange Contracts by Hedged Line Item in Statement of Operations | The following table summarizes the notional principal of the foreign currency exchange contracts by hedged line item in the statement of operations as of December 31, 2021:
| Notional amount in foreign currency
| Australian dollar (AUD) |  | British pound (GBP) |  | Canadian dollar (CAD) |  | Norwegian krone (NOK) |  | Swedish krona (SEK) |  | U.S. dollar (USD)
| (in millions)
Hedged line item in consolidated statement of operations |  |  |  |  |  |  |  |  |  |  |
Revenue | 327 |  |  | 429 |  |  | 274 |  |  | 870 |  |  | 1,446 |  |  | 54 |
Cost of revenue | 240 |  |  | 304 |  |  | 190 |  |  | 573 |  |  | 959 |  |  | 43 |
Total | 567 |  |  | 733 |  |  | 464 |  |  | 1,443 |  |  | 2,405 |  |  | 97 |
The following table summarizes the notional principal of the foreign currency exchange contracts by hedged line item in the statement of operations as of December 31, 2020:
| Notional amount in foreign currency
| Australian dollar (AUD) |  | British pound (GBP) |  | Canadian dollar (CAD) |  | Norwegian krone (NOK) |  | Swedish krona (SEK) |  | U.S. dollar (USD)
| (in millions)
Hedged line item in consolidated statement of operations |  |  |  |  |  |  |  |  |  |  |
Revenue | 274 |  |  | 379 |  |  | 239 |  |  | 809 |  |  | 1,384 |  |  | 32 |
Cost of revenue | 199 |  |  | 274 |  |  | 166 |  |  | 543 |  |  | 938 |  |  | 24 |
Total | 473 |  |  | 653 |  |  | 405 |  |  | 1,352 |  |  | 2,322 |  |  | 56 |
Summary of Major Security Type, Financial Assets and Liabilities Measured at Fair Value on Recurring Basis | The following tables summarize, by major security type, the Group’s financial assets and liabilities that are measured at fair value on a recurring basis, and the category using the fair value hierarchy. The different levels have been defined in Note 2.
Financial assets and liabilities by fair value hierarchy level | Level 1 |  | Level 2 |  | Level 3 |  | December 31, 2021
| (in € millions)
Financial assets at fair value |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |
Money market funds | 1,970 |  |  | — |  |  | — |  |  | 1,970 |
Short term investments: |  |  |  |  |  |  |
Money market funds | 25 |  |  | — |  |  | — |  |  | 25 |
Government securities | 204 |  |  | 18 |  |  | — |  |  | 222 |
Corporate notes | — |  |  | 308 |  |  | — |  |  | 308 |
Collateralized reverse purchase agreements | — |  |  | 67 |  |  | — |  |  | 67 |
Fixed income funds | 134 |  |  | — |  |  | — |  |  | 134 |
Derivatives (designated for hedging): |  |  |  |  |  |  |
Foreign exchange forwards | — |  |  | 11 |  |  | — |  |  | 11 |
Long term investments | 852 |  |  | — |  |  | 64 |  |  | 916 |
Total financial assets at fair value by level | 3,185 |  |  | 404 |  |  | 64 |  |  | 3,653 |
Financial liabilities at fair value |  |  |  |  |  |  |
Exchangeable Notes | — |  |  | — |  |  | 1,202 |  |  | 1,202 |
Derivatives (not designated for hedging): |  |  |  |  |  |  |
Warrants | — |  |  | — |  |  | 72 |  |  | 72 |
Derivatives (designated for hedging): |  |  |  |  |  |  |
Foreign exchange forwards | — |  |  | 17 |  |  | — |  |  | 17 |
Contingent consideration | — |  |  | — |  |  | 17 |  |  | 17 |
Total financial liabilities at fair value by level | — |  |  | 17 |  |  | 1,291 |  |  | 1,308 |
Financial assets and liabilities by fair value hierarchy level | Level 1 |  | Level 2 |  | Level 3 |  | December 31, 2020
| (in € millions)
Financial assets at fair value |  |  |  |  |  |  |
Cash equivalents |  |  |  |  |  |  |
Money market funds | 685 |  |  | — |  |  | — |  |  | 685 |
Short term investments: |  |  |  |  |  |  |
Money market funds | 25 |  |  | — |  |  | — |  |  | 25 |
Government securities | 198 |  |  | 31 |  |  | — |  |  | 229 |
Agency securities | — |  |  | 4 |  |  | — |  |  | 4 |
Corporate notes | — |  |  | 276 |  |  | — |  |  | 276 |
Collateralized reverse purchase agreements | — |  |  | 62 |  |  | — |  |  | 62 |
Derivatives (designated for hedging): |  |  |  |  |  |  |
Foreign exchange forwards | — |  |  | 12 |  |  | — |  |  | 12 |
Long term investments | 2,228 |  |  | — |  |  | 49 |  |  | 2,277 |
Total financial assets at fair value by level | 3,136 |  |  | 385 |  |  | 49 |  |  | 3,570 |
Financial liabilities at fair value |  |  |  |  |  |  |
Derivatives (not designated for hedging): |  |  |  |  |  |  |
Warrants | — |  |  | — |  |  | 89 |  |  | 89 |
Derivatives (designated for hedging): |  |  |  |  |  |  |
Foreign exchange forwards | — |  |  | 16 |  |  | — |  |  | 16 |
Contingent consideration | — |  |  | — |  |  | 30 |  |  | 30 |
Total financial liabilities at fair value by level | — |  |  | 16 |  |  | 119 |  |  | 135 |
Summary of Changes in Investment | The table below presents the changes in the investment in TME:
| 2021 |  | 2020 |  | 2019
| (in € millions)
At January 1 | 2,228 |  |  | 1,481 |  |  | 1,630 |
Changes in fair value recorded in other comprehensive loss/income | (1,376) |  |  | 747 |  |  | (149) |
At December 31 | 852 |  |  | 2,228 |  |  | 1,481 |
The table below presents the changes in the other long term investments:
| 2021 |  | 2020 |  | 2019
| (in € millions)
At January 1 | 49 |  |  | 16 |  |  | 16 |
Initial recognition of long term investment | 2 |  |  | 9 |  |  | — |
Changes in fair value recorded in other comprehensive (loss)/income | 158 |  |  | 29 |  |  | — |
Changes in fair value recognized in consolidated statement of operations | (4) |  |  | (4) |  |  | — |
Sale of long term investment | (144) |  |  | — |  |  | — |
Effect of changes in foreign exchange rates | 3 |  |  | (1) |  |  | — |
At December 31 | 64 |  | 49 |  | 16
Summary of Assumption Used to Estimate Fair Value of Warrants | The warrants are valued using a Black-Scholes option-pricing model, which includes inputs determined from models that include the value of the Company’s ordinary shares, as determined above and additional assumptions used to estimate the fair value of the warrants in the option pricing model as follows:
| 2021 |  | 2020 |  | 2019
Expected term (years) | 0.5 – 2.65 |  | 1.5 |  | 0.5 – 2.5
Risk free rate (%) | 0.19 – 0.89 |  | 0.11 |  | 1.58 – 1.59
Volatility (%) | 40.0 - 45.0 |  | 50.0 |  |  | 32.5 |
Share price (US$) | 234.03 |  |  | 314.66 |  |  | 149.55 |
Summary of Changes in Warrants Liability | The table below presents the changes in the warrants liability:
| 2021 |  | 2020 |  | 2019
| (in € millions)
January 1 | 89 |  |  | 98 |  |  | 333 |
Issuance of warrant for cash | 31 |  |  | — |  |  | 15 |
Issuance of shares upon exercise of, or net settlement of, warrants | — |  |  | (267) |  |  | (303) |
Non cash changes recognized in profit or loss |  |  |  |  |
Changes in fair value recognized in consolidated statement of operations | (53) |  |  | 263 |  |  | 35 |
Effect of changes in foreign exchange rates | 5 |  |  | (5) |  |  | 18 |
At December 31 | 72 |  |  | 89 |  |  | 98 |
Summary of Changes in Contingent Consideration Liability | The table below presents the changes in the contingent consideration liability:
| 2021 |  | 2020 |  | 2019
| (in € millions)
At January 1 | 30 |  |  | 27 |  |  | — |
Initial recognition of contingent consideration included in purchase consideration of acquisition | — |  |  | — |  |  | 13 |
Contingent consideration payments | (17) |  |  | (7) |  |  | — |
Changes in fair value recognized in consolidated statement of operations | 2 |  |  | 13 |  |  | 14 |
Effect of changes in foreign exchange rates | 2 |  |  | (3) |  |  | — |
At December 31 | 17 |  |  | 30 |  |  | 27 |
Disclosure of detailed information about borrowings | The table below presents the changes in the Exchangeable Notes:
|  | 2021
|  | (in € millions)
At January 1 |  | — |
Initial recognition |  | 1,232 |
Changes in fair value recognized in consolidated statement of operations |  | (112) |
Effect of changes in foreign exchange rates |  | 82 |
At December 31 |  | 1,202 |
Description of fair value assumptions of borrowings | The key assumptions used in the binomial option pricing model for the Exchangeable Notes were as follows:
|  | December 31, 2021
Risk free rate (%) |  | 1.15 |
Discount rate (%) |  | 3.9 |
Volatility (%) |  | 40.0 |
Share price (US$) |  | 234.03 |

X
- Definition Description Of Fair Value Assumptions Of Borrowings + References No definition available. + Details
Name: | ck0001639920_DescriptionOfFairValueAssumptionsOfBorrowingsTableTextBlock
Namespace Prefix: | ck0001639920_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of changes in contingent consideration liability. + References No definition available. + Details
Name: | ck0001639920_DisclosureOfChangesInContingentConsiderationLiabilityExplanatoryTableTextBlock
Namespace Prefix: | ck0001639920_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of changes in long term investment. + References No definition available. + Details
Name: | ck0001639920_DisclosureOfChangesInLongTermInvestmentExplanatoryTableTextBlock
Namespace Prefix: | ck0001639920_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure Of Effect Of 10% Change In Currency + References No definition available. + Details
Name: | ck0001639920_DisclosureOfEffectOf10ChangeInCurrencyTableTextBlock
Namespace Prefix: | ck0001639920_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of measurement of fair value of warrants. + References No definition available. + Details
Name: | ck0001639920_DisclosureOfMeasurementOfFairValueOfWarrantsExplanatoryTableTextBlock
Namespace Prefix: | ck0001639920_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of detailed information about borrowings. [Refer: Borrowings] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IFRS -Number 7 -IssueDate 2021-01-01 -Paragraph 7 -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2021-en-r&anchor=para_7&doctype=Standard -URIDate 2021-03-24 + Details
Name: | ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for the effect of changes in foreign exchange rates. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 21 -IssueDate 2021-01-01 -Section Disclosure -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=21&code=ifrs-tx-2021-en-r&doctype=Standard&dita_xref=IAS21_g51-57_TI -URIDate 2021-03-24 + Details
Name: | ifrs-full_DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of the fair value of financial instruments. [Refer: Financial instruments, class [member]; At fair value [member]] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2021-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_10_e&doctype=Standard -URIDate 2021-03-24 + Details
Name: | ifrs-full_DisclosureOfFairValueOfFinancialInstrumentsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | ifrs-full_DisclosureOfFinancialInstrumentsAbstract
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of liquidity risk. [Refer: Liquidity risk [member]] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2021-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_10_e&doctype=Standard -URIDate 2021-03-24 + Details
Name: | ifrs-full_DisclosureOfLiquidityRiskExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of the reconciliation of liabilities arising from financing activities. [Refer: Liabilities arising from financing activities] + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Name IAS -Number 7 -IssueDate 2021-01-01 -Paragraph 44D -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=7&code=ifrs-tx-2021-en-r&anchor=para_44D&doctype=Standard -URIDate 2021-03-24 + Details
Name: | ifrs-full_DisclosureOfReconciliationOfLiabilitiesArisingFromFinancingActivitiesExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration