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Intangible assets - Goodwill (Tables)
 12 Months Ended
Dec. 31, 2022
Intangible assets and goodwill [abstract]  
Disclosure of detailed information about goodwill
The detail of goodwill, based on the cash-generating units giving rise thereto, is as follows:
EUR million
202220212020
Banco Santander (Brasil) 3,503 3,219 3,109 
SAM Investment Holdings Limited1,444 1,444 1,444 
Santander Consumer Germany1,304 1,304 1,314 
Santander Bank Polska1,075 1,095 1,104 
Santander Portugal1,040 1,040 1,040 
Santander US Auto1,039 979 904 
Santander España998 1,027 1,027 
Santander Holding USA (ex. Auto)A
844 643 594 
Santander UK599 633 592 
Banco Santander - Chile 548 516 571 
Grupo Financiero Santander (México)469 435 399 
Ebury Partners298 — — 
Santander Consumer Nordics215 224 216 
Other companies365 154 157 
Total Goodwill13,741 12,713 12,471 
A.Includes the Amherst Pierpont Securities LLC' business (see note 3).
Schedule of goodwill and changes in goodwill
The changes in goodwill were as follows:
EUR million
202220212020
Balance at beginning of year12,713 12,471 24,246 
Additions (note 3)534 81 429 
Of which:
Ebury Partners316 — — 
Santander Holding USA (ex. Auto) A
158 — — 
SAM Investment Holdings Limited— — 271 
Impairment losses— (6)(10,100)
Of which:
Santander UK— — (6,101)
Santander Bank Polska— — (1,192)
Santander Holding USA (ex. Auto)— — (1,177)
Santander US Auto— — (1,153)
Santander Consumer Nordics— — (277)
Disposals or changes in scope of consolidation— — — 
Exchange differences and other items494 167 (2,104)
Balance at end of year13,741 12,713 12,471 
A.Acquisition of Amherst Pierpont Securities LLC (see note 3).
Schedule of goodwill assumptions
Following is a detail of the main assumptions taken into account in determining the recoverable amount, at 2022 year-end, of the most significant cash-generating units which were valued using the discounted cash flow method:


2022
Projected period
Discount rateA
Nominal
perpetual
growth rate
Santander UK5 years11.1 %2.5 %
Santander Bank Polska5 years15.6 %4.8 %
Santander US Auto3 years12.2 %2.8 %
Santander Holding USA (ex. Auto)B
5 years12.6 %3.5 %
Santander Consumer Germany5 years9.4 %2.3 %
SAM Investment Holdings, Limited5 years12.2 %2.5 %
Santander Portugal5 years11.1 %2.3 %
Santander Consumer Nordics5 years11.0 %2.5 %
A.Post-tax discount rate.
B.Weighted information of the main assumptions of the segments to which goodwill has been allocated.
The discount and nominal perpetual growth rates taken into account in 2021 and 2020 are presented below for comparison purposes:
Discount rateA
Nominal
perpetual
growth rate
2021202020212020
Santander UK9.2 %9.5 %2.3 %2.3 %
Santander Bank Polska10.3 %10.0 %3.5 %3.5 %
Santander US Auto10.6 %10.7 %1.5 %1.5 %
Santander Holding USA (ex. Auto)B
11.6 %11.6 %3.0 %2.5 %
Santander Consumer Germany8.3 %9.0 %1.8 %1.8 %
SAM Investment Holdings, Limited10.4 %10.1 %2.5 %2.5 %
Santander Portugal9.7 %9.8 %1.8 %1.8 %
Santander Consumer Nordics9.9 %10.1 %2.0 %2.0 %
A.Post-tax discount rate.
B.Weighted information of the main assumptions of the segments to which goodwill has been allocated.