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Balance Sheet at 31 December 2010 of BBVA

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BANCO BILBAO VIZCAYA ARGENTARIA, S.A. AND COMPANIES COMPOSING THE BANCO BILBAO VIZCAYA<br />

ARGENTARIA GROUP<br />

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY FOR THE YEARS ENDED DECEMBER <strong>31</strong>,<br />

<strong>2010</strong>, 2009 AND 2008<br />

CONSOLIDATED STATEMENTS OF CHANGES IN TOTAL EQUITY<br />

Millions <strong>of</strong> Euros<br />

Total Equity Attributed to the Parent Company<br />

Stockholders’ Funds<br />

<strong>2010</strong><br />

Common<br />

Stock<br />

Reserves<br />

Share Premium<br />

Reserves (Losses)<br />

Accumul<strong>at</strong>ed from Entities<br />

Reserves (Losses) Accounted for Using<br />

the Equity Method<br />

Other<br />

Equity<br />

Instruments<br />

Less:<br />

Treasury<br />

Stock<br />

Income<br />

Less:<br />

Total<br />

Attributed to Dividends<br />

Stockholders'<br />

the Parent and Remuner<strong>at</strong>ions<br />

Company<br />

Funds<br />

Valu<strong>at</strong>ion<br />

Adjustments<br />

Total<br />

Noncontrolling<br />

Interests<br />

Total<br />

Equity<br />

<strong>Balance</strong>s as <strong>of</strong> January 1, <strong>2010</strong> 1,837 12,453 11,765 309 12 (224) 4,210 (1,000) 29,362 (62) 29,300 1,463 30,763<br />

Effect <strong>of</strong> changes in accounting policies - - - - - - - - - - - - -<br />

Effect <strong>of</strong> correction <strong>of</strong> errors - - - - - - - - - - - - -<br />

Adjusted initial balance 1,837 12,453 11,765 309 12 (224) 4,210 (1,000) 29,362 (62) 29,300 1,463 30,763<br />

Total income/expense recognized - - - - - - 4,606 - 4,606 (708) 3,898 284 4,182<br />

Other changes in equity 364 4,651 2,540 (254) 25 (328) (4,210) (67) 2,721 - 2,721 (191) 2,530<br />

Common stock increase 364 4,651 - - - - - - 5,015 - 5,015 - 5,015<br />

Common stock reduction - - - - - - - - - - - - -<br />

Conversion <strong>of</strong> financial liabilities into capital - - - - - - - - - - - - -<br />

Increase <strong>of</strong> other equity instruments - - - - 25 - - - 25 - 25 - 25<br />

Reclassific<strong>at</strong>ion <strong>of</strong> financial liabilities to other equity instruments - - - - - - - - - - - - -<br />

Reclassific<strong>at</strong>ion <strong>of</strong> other equity instruments to financial liabilities - - - - - - - - - - - - -<br />

Dividend distribution - - - - - - (558) (1,067) (1,625) - (1,625) (197) (1,822)<br />

Transactions including treasury stock and other equity instruments (net) - - (105) - - (328) - - (433) - (433) - (433)<br />

Transfers between total equity entries - - 2,865 (213) - - (3,652) 1,000 - - - - -<br />

Increase/Reduction due to business combin<strong>at</strong>ions - - - - - - - - - - - - -<br />

Payments with equity instruments - - - - - - - - - - - - -<br />

Rest <strong>of</strong> increases/reductions in total equity - - (220) (41) - - - - (261) - (261) 6 (255)<br />

<strong>Balance</strong>s as <strong>of</strong> <strong>December</strong> <strong>31</strong>, <strong>2010</strong> 2,201 17,104 14,305 55 37 (552) 4,606 (1,067) 36,689 (770) 35,919 1,556 37,475<br />

Millions <strong>of</strong> Euros<br />

Total Equity Attributed to the Parent Company<br />

Stockholders’ Funds<br />

2009<br />

Common<br />

Stock<br />

Reserves<br />

Share Premium<br />

Reserves (Losses)<br />

Accumul<strong>at</strong>ed from Entities<br />

Reserves (Losses) Accounted for Using<br />

the Equity Method<br />

Other<br />

Equity<br />

Instruments<br />

Less:<br />

Treasury<br />

Stock<br />

Income<br />

Less:<br />

Total<br />

Attributed to Dividends<br />

Stockholders'<br />

the Parent and Remuner<strong>at</strong>ions<br />

Company<br />

Funds<br />

Valu<strong>at</strong>ion<br />

Adjustments<br />

Total<br />

Non-controlling<br />

Interests<br />

Total<br />

Equity<br />

<strong>Balance</strong>s as <strong>of</strong> January 1, 2009 1,837 12,770 8,801 609 89 (720) 5,020 (1,820) 26,586 (930) 25,656 1,049 26,705<br />

Effect <strong>of</strong> changes in accounting policies - - - - - - - - - - - - -<br />

Effect <strong>of</strong> correction <strong>of</strong> errors - - - - - - - - - - - - -<br />

Adjusted initial balance 1,837 12,770 8,801 609 89 (720) 5,020 (1,820) 26,586 (930) 25,656 1,049 26,705<br />

Total income/expense recognized - - - - - - 4,210 - 4,210 868 5,078 578 5,656<br />

Other changes in equity - (<strong>31</strong>7) 2,964 (300) (77) 496 (5,020) 820 (1,434) - (1,434) (164) (1,598)<br />

Common stock increase - - - - - - - - - - - - -<br />

Common stock reduction - - - - - - - - - - - - -<br />

Conversion <strong>of</strong> financial liabilities into capital - - - - - - - - - - - - -<br />

Increase <strong>of</strong> other equity instruments - - - - 10 - - - 10 - 10 - 10<br />

Reclassific<strong>at</strong>ion <strong>of</strong> financial liabilities to other equity instruments - - - - - - - - - - - - -<br />

Reclassific<strong>at</strong>ion <strong>of</strong> other equity instruments to financial liabilities - - - - - - - - - - - - -<br />

Dividend distribution - - - - - - - (1,000) (1,000) - (1,000) (144) (1,144)<br />

Transactions including treasury stock and other equity instruments (net) - - (238) - - 496 - - 258 - 258 - 258<br />

Transfers between total equity entries - - 3,378 (178) - - (5,020) 1,820 - - - - -<br />

Increase/Reduction due to business combin<strong>at</strong>ions - - - - - - - - - - - - -<br />

Payments with equity instruments - (<strong>31</strong>7) - - (87) - - - (404) - (404) - (404)<br />

Rest <strong>of</strong> increases/reductions in total equity - - (176) (122) - - - - (298) - (298) (20) (<strong>31</strong>8)<br />

<strong>Balance</strong>s as <strong>of</strong> <strong>December</strong> <strong>31</strong>, 2009 1,837 12,453 11,765 309 12 (224) 4,210 (1,000) 29,362 (62) 29,300 1,463 30,763<br />

Millions <strong>of</strong> Euros<br />

Total Equity Attributed to the Parent Company<br />

Stockholders’ Funds<br />

2008<br />

Common<br />

Stock<br />

Reserves<br />

Share Premium<br />

Reserves (Losses)<br />

Accumul<strong>at</strong>ed from Entities<br />

Reserves (Losses) Accounted for Using<br />

the Equity Method<br />

Other<br />

Equity<br />

Instruments<br />

Less:<br />

Treasury<br />

Stock<br />

Income<br />

Less:<br />

Total<br />

Attributed to Dividends<br />

Stockholders'<br />

the Parent and Remuner<strong>at</strong>ions<br />

Company<br />

Funds<br />

Valu<strong>at</strong>ion<br />

Adjustments<br />

Total<br />

Non-controlling<br />

Interests<br />

Total<br />

Equity<br />

<strong>Balance</strong>s as <strong>of</strong> January 1, 2008 1,837 12,770 5,609 451 68 (389) 6,126 (1,661) 24,811 2,252 27,063 880 27,943<br />

Effect <strong>of</strong> changes in accounting policies - - - - - - - - - - - - -<br />

Effect <strong>of</strong> correction <strong>of</strong> errors - - - - - - - - - - - - -<br />

Adjusted initial balance 1,837 12,770 5,609 451 68 (389) 6,126 (1,661) 24,811 2,252 27,063 880 27,943<br />

Total income/expense recognized - - - - - - 5,020 - 5,020 (3,182) 1,838 <strong>31</strong>0 2,148<br />

Other changes in equity - - 3,192 158 21 (3<strong>31</strong>) (6,126) (159) (3,245) - (3,245) (142) (3,387)<br />

Common stock increase - - - - - - - - - - - - -<br />

Common stock reduction - - - - - - - - - - - - -<br />

Conversion <strong>of</strong> financial liabilities into capital - - - - - - - - - - - - -<br />

Increase <strong>of</strong> other equity instruments - - - - 21 - - - 21 - 21 - 21<br />

Reclassific<strong>at</strong>ion <strong>of</strong> financial liabilities to other equity instruments - - - - - - - - - - - - -<br />

Reclassific<strong>at</strong>ion <strong>of</strong> other equity instruments to financial liabilities - - - - - - - - - - - - -<br />

Dividend distribution - - - - - - (1,002) (1,820) (2,822) - (2,822) (142) (2,964)<br />

Transactions including treasury stock and other equity instruments (net) - - (172) - - (3<strong>31</strong>) - - (503) - (503) - (503)<br />

Transfers between total equity entries - - 3,4<strong>31</strong> 33 - - (5,125) 1,661 - - - - -<br />

Increase/Reduction due to business combin<strong>at</strong>ions - - 9 - - - - - 9 - 9 - 9<br />

Payments with equity instruments - - - - - - - - - - - - -<br />

Rest <strong>of</strong> increases/reductions in total equity - - (75) 125 - - - - 49 - 49 - 49<br />

<strong>Balance</strong>s as <strong>of</strong> <strong>December</strong> <strong>31</strong>, 2008 1,837 12,770 8,801 609 89 (720) 5,020 (1,820) 26,586 (930) 25,656 1,049 26,705<br />

118

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