Balance Sheet at 31 December 2010 of BBVA

As of December 31, 2010 and 2009, there were no liabilities associated with non-current assets held for
sale.
The changes in the heading “Non-current assets held for sale” of the balance sheets were as follows:
2010 Foreclosed
Millions of Euros
Recovered Assets
from Operating
Lease
From Own Use
Assets (*)
Cost-
Balance at the beginning 348 26 253 627
Additions (Purchases) 939 75 - 1,014
Contributions from merger transactions - - - -
Retirements (Sales) (260) (28) (165) (453)
Transfers (197) (12) 30 (179)
Balance at the end 830 61 118 1,009
Impairment-
Balance at the beginning 41 8 8 57
Additions 185 9 3 197
Retirements (Sales) (22) (1) (4) (27)
Transfers (171) (5) - (176)
Balance at the end 33 11 7 51
Total 797 50 111 958
(*) Until classified as non-current assets held for sale
Total
2009 Foreclosed
Millions of Euros
Recovered Assets
from Operating
Lease
From Own Use
Assets (*)
Cost-
Balance at the beginning 91 10 64 165
Additions (Purchases) 344 65 - 409
Contributions from merger transactions - - 27 27
Retirements (Sales) (87) (49) (331) (467)
Transfers - - 493 493
Balance at the end 348 26 253 627
Impairment-
Balance at the beginning 8 5 3 16
Additions 57 3 5 65
Retirements (Sales) (74) - - (74)
Transfers 50 - - 50
Balance at the end 41 8 8 57
Total 307 18 245 570
(*) Until classified as non-current assets held for sale
Total
14.1. FROM TANGIBLE ASSETS FOR OWN USE
The most significant changes in the balance of the heading “Non-current assets held for sale – From tangible
fixed assets for own use”, in 2010 and 2009, were as follows:
In 2009, 1,150 buildings (offices and other constructions) that the Bank owned, valued at a total of €426
million, were reclassified and included as part of a plan for sale. Previously, these assets were recognized
under the heading “Tangible assets - Property, plants and equipment - For own use” of the accompanying
balance sheet (see Note 16).
Sale of property with leaseback
In 2010 and 2009, the Bank sold 164 and 971 properties, respectively, in Spain to investments not related to
BBVA Group for a total sale price of €404 and €1,263 million at market prices, respectively, without making
funds available to the buyers to pay the price of these transactions.
At the same time the Bank signed long-term operating leases with these investors on the aforementioned
properties for periods of 10, 15, 20, 25 or 30 years (according to the property) and renewable. Most have
obligatory periods of 20 or 30 years. Most can be extended for a maximum of three additional 5-year periods,
up to a total of 35 to 45 years. The total annual nominal income from the real estate in said operating lease
arrangements amounted to €115 million. This income is updated annually based on the terms and conditions
set forth in said arrangements.
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