BANCO BILBAO VIZCAYA ARGENTARIA, S.A. AND ... - BBVA

profit or loss for the year is presented under the heading “Net income attributed to non-controlling interests”
in the accompanying consolidated income statements (see Note 32).
Note 3 include information on the main companies in the Group as of June 30, 2010. Appendix II includes
the most significant information on these companies.
Jointly controlled entities
These are entities that, while not being subsidiaries, fulfill the definition of “joint business” (see the Glossary).
Since the implementation of IFRS-EU, the Group has applied the following policy in relation to investments in
jointly controlled entities:
• Jointly controlled financial entities: Since it is a financial entity, the best way of reflecting its activities
within the Group’s consolidated financial statements is considered to be the proportionate method of
consolidation.
As of June 30, 2010 and December 31, 2009, the contribution of jointly controlled financial entities to the
main figures in the Group’s consolidated financial statements under the proportionate consolidation
method, calculated on the basis of the Group’s holding in them, is shown in the table below:
Millions of Euros
Contribution to the Group by Entities Accounted for
Under the Proportionate Method
June
2010
December
2009
Assets 1,080 869
Liabilities 1,019 732
Equity 36 38
Net income 14 17
Additional disclosure is not provided as these investments are not significant.
Appendix III shows the main figures for jointly controlled entities consolidated by the Group under the
proportionate method.
• Jointly controlled non-financial entities: It is considered that the effect of distributing the balance sheet
and income statement amounts belonging to jointly controlled non-financial entities would distort the
information provided to investors. For this reason, the equity method is considered the most appropriate
way of reflecting these investments.
Appendix IV shows the main figures for jointly controlled entities consolidated using the equity method.
Note 17 details the impact, if any, that application of the proportionate consolidation method on these
entities would have had on the consolidated balance sheet and income statement.
Associate entities
Associates are companies in which the Group is able to exercise significant influence, without having total or
joint control. Significant influence is deemed to exist when the Group owns 20% or more of the voting rights
of an investee directly or indirectly.
However, certain entities in which the Group owns 20% or more of the voting rights are not included as
Group associates, since it is considered that the Group does not have the capacity to exercise significant
influence over these entities. Investments in these entities, which do not represent significant amounts for
the Group, are classified as available-for-sale investments.
Moreover, some investments in entities in which the Group holds less than 20% of the voting rights are
accounted for as Group associates, as the Group is considered to have the power to exercise significant
influence over these entities.
Investments in associates are accounted for using the equity method (see Note 17). Appendix IV shows the
most significant information on the associates consolidated using the equity method.
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