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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2009 Currency Risk<br />
Interest R<strong>at</strong>e<br />
Risk<br />
Millions <strong>of</strong> Euros<br />
Equity Price<br />
Risk<br />
OTC markets<br />
Credit institutions<br />
Fair value hedge - 1,826 (30) 1,796<br />
Cash flow hedge 21 161 - 182<br />
Subtotal 21 1,987 (30) 1,978<br />
Other financial Institutions - - - -<br />
Fair value hedge - 109 (21) 88<br />
Subtotal - 109 (21) 88<br />
Other sectors - - - -<br />
Fair value hedge - 2 - 2<br />
Subtotal - 2 - 2<br />
Total 21 2,098 (51) 2,068<br />
Of which:<br />
Asset Hedging Deriv<strong>at</strong>ives 21 2,995 66 3,082<br />
Of which:<br />
Liability Hedging Deriv<strong>at</strong>ives - (897) (117) (1,014)<br />
Total<br />
The most significant cash flows th<strong>at</strong> are expected to have an impact on the income st<strong>at</strong>ement in the coming<br />
years for cash flow hedging held on the balance sheet as <strong>of</strong> <strong>December</strong> <strong>31</strong>, <strong>2010</strong> are shown below.<br />
Cash Flows <strong>of</strong> Hedging Instruments<br />
3 Months or<br />
Less<br />
From 3<br />
Months to 1<br />
Year<br />
Millions <strong>of</strong> Euros<br />
From 1 to 5<br />
Years<br />
More than 5<br />
Years<br />
Receivable cash inflows 15 28 72 96 211<br />
Payable cash outflows 15 28 70 133 246<br />
Total<br />
The forecast cash flows will <strong>at</strong> most impact on the accompanying income st<strong>at</strong>ement for 2025. The amounts<br />
previously recognized in equity from cash flow hedges th<strong>at</strong> were removed from equity and included in the<br />
income st<strong>at</strong>ement, either in the heading “Net gains (losses) on financial assets and liabilities” or in the<br />
heading “Exchange differences (net)”, in <strong>2010</strong> and 2009 were €<strong>31</strong>and €5 million, respectively.<br />
The amount for deriv<strong>at</strong>ives design<strong>at</strong>ed as accounting hedges th<strong>at</strong> did not pass the effectiveness test in <strong>2010</strong><br />
and 2009 was not significant.<br />
14. NON-CURRENT ASSETS HELD FOR SALE AND LIABILITIES ASSOCIATED WITH NON-CURRENT<br />
ASSETS HELD FOR SALE<br />
The balance <strong>of</strong> the heading “Non-current assets held for sale” in the accompanying balance sheets, broken<br />
down by the origin <strong>of</strong> the assets, is as follows:<br />
Millions <strong>of</strong> Euros<br />
Non-Current Assets Held-for-Sale<br />
Breakdown by type <strong>of</strong> Asset<br />
<strong>2010</strong> 2009<br />
From:<br />
Tangible fixed assets (net) 166 366<br />
For own use 166 366<br />
Assets leased out under an oper<strong>at</strong>ing lease - -<br />
Foreclosures or recoveries (net) 891 374<br />
Foreclosures 830 348<br />
Recoveries from financial leases 61 26<br />
Accrued amortiz<strong>at</strong>ion (*) (48) (113)<br />
Impairment losses (51) (57)<br />
Total 958 570<br />
(*) Until classified as non-current assets held for sale<br />
65
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