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Balance Sheet at 31 December 2010 of BBVA

Balance Sheet at 31 December 2010 of BBVA

Balance Sheet at 31 December 2010 of BBVA

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Transl<strong>at</strong>ion <strong>of</strong> financial st<strong>at</strong>ements originally issued in Spanish and prepared in accordance with generally accounting principles Spain<br />

(See Note 1 and 54). In the event <strong>of</strong> a discrepancy, the Spanish-language version prevails.<br />

The reconcili<strong>at</strong>ion between the various headings in the balance sheet respect to the cash flow st<strong>at</strong>ement is<br />

set out following the <strong>2010</strong> and 2009 cash flow st<strong>at</strong>ements.<br />

To prepare the cash flow st<strong>at</strong>ements, the following items are taken into consider<strong>at</strong>ion:<br />

• Cash flows: Inflows and outflows <strong>of</strong> cash and cash equivalents, the l<strong>at</strong>ter being short-term, highly<br />

liquid investments subject to a low risk <strong>of</strong> changes in value, such Cash and Deposits.<br />

• Oper<strong>at</strong>ing activities: The typical activities <strong>of</strong> credit institutions and other activities th<strong>at</strong> cannot be<br />

classified as investing or financing activities.<br />

• Investing activities: The acquisition, sale or other disposal <strong>of</strong> long-term assets and other investments<br />

not included in cash and cash equivalents.<br />

• Financing activities: Activities th<strong>at</strong> result in changes in the size and composition <strong>of</strong> equity and <strong>of</strong><br />

liabilities th<strong>at</strong> do not form part <strong>of</strong> oper<strong>at</strong>ing activities<br />

3. APPLICATION OF EARNINGS<br />

In <strong>2010</strong>, the Board <strong>of</strong> Directors <strong>of</strong> Banco Bilbao Vizcaya Argentaria, S.A. resolved to distribute the first,<br />

second and third amounts against the <strong>2010</strong> dividends <strong>of</strong> the income, amounting to a total <strong>of</strong> €0.270 gross<br />

per share. The aggreg<strong>at</strong>e amount <strong>of</strong> the interim dividends declared as <strong>of</strong> <strong>December</strong> <strong>31</strong>, <strong>2010</strong> was €1,079<br />

million and is recognized under “Stockholders' funds - Dividends and remuner<strong>at</strong>ion” in the accompanying<br />

balance sheet. The provisional financial st<strong>at</strong>ements prepared in <strong>2010</strong> by Banco Bilbao Vizcaya Argentaria,<br />

S.A. in accordance with legal requirements evidencing the existence <strong>of</strong> sufficient liquidity for the distribution<br />

<strong>of</strong> the amounts to the interim dividend were as follows:<br />

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

Available Amount for Interim Dividend Payments<br />

<strong>31</strong>-05-<strong>2010</strong> <strong>31</strong>-08-<strong>2010</strong> 30-11-<strong>2010</strong><br />

First Second Third<br />

Pr<strong>of</strong>it <strong>at</strong> each <strong>of</strong> the d<strong>at</strong>es indic<strong>at</strong>ed, after the provision for income tax 1,432 3,072 3,088<br />

Less -<br />

Estim<strong>at</strong>ed provision for Legal Reserve - - 73<br />

Interim dividends paid - 337 675<br />

Maximum amount distributable 1,432 2,735 2,340<br />

Amount <strong>of</strong> proposed interim dividend 337 337 404<br />

The applic<strong>at</strong>ion <strong>of</strong> earnings during <strong>2010</strong> was as follows:<br />

Applic<strong>at</strong>ion <strong>of</strong> Earnings <strong>2010</strong><br />

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

Euros<br />

Net income for year <strong>of</strong> <strong>2010</strong> 2,904<br />

Distribution:<br />

Dividends 1,079<br />

Legal reserve 73<br />

Voluntary reserves 1,752<br />

The dividends per share in <strong>2010</strong> were as follows:<br />

Dividends per Share<br />

First<br />

Interim<br />

Second<br />

Interim<br />

Euros per Share<br />

Third<br />

Interim<br />

Total<br />

<strong>2010</strong> 0.090 0.090 0.090 0.270<br />

<strong>31</strong>

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