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

The breakdown of the commitments pension commitments in defined-benefit plans and other postemployment
commitments, as well as the corresponding insurance contracts or coverage, distinguishing
between employees in Spain and the rest of the subsidiaries and BBVA, S.A. branches abroad, is as follows:
Pensions and Early-Retirement Commitments and Welfare
Benefits: Spain and Abroad
Millions of Euros
Commitments in Spain Commitments Abroad Total BBVA Group
June
2010
December
2009
June
2010
December
2009
June
2010
December
2009
Post-employment benefits - - - - - -
Post-employment benefits 2,912 2,946 1,135 997 4,048 3,943
Early retirement 3,163 3,309 - - 3,163 3,309
Post-employment welfare benefits 215 222 651 521 866 743
Total post-employment benefits (1) 6,290 6,477 1,786 1,518 8,076 7,995
Insurance contracts coverage - - - - - -
Post-employment benefits 446 455 - - 446 455
Other plan assets - - - - - -
Post-employment benefits - - 1,138 952 1,138 952
Post-employment welfare benefits - - 493 342 493 342
Total assets plan and insurance contracts coverage (2) 446 455 1,631 1,294 2,077 1,749
Net commitments (1) - (2) 5,844 6,022 155 224 6,000 6,246
of which: - - - - - -
Net assets - - - - - -
Net liabilities (*) 5,844 6,022 155 224 5,999 6,246
(*) Recognized under the heading "Provisions-Provisions for pension and similar obligation" in the accompanyng consolidated balabce sheets
Additionally, there are other commitments to employees, including long-service bonuses which are
recognized under the heading “Other provisions” in the accompanying consolidated balance sheets (see
Note 25). These amounted to €36 million as of June 30, 2010 (€39 million as of December 31, 2009) of
which €11 million correspond to Spanish companies and €25 million to companies and branches abroad
(€13 million and €26 million, respectively, as of December 31, 2009).
The balance of the heading “Provisions - Provisions for pensions and similar obligations” on the
accompanying consolidated balance sheets as of June 30, 2010, included €203 million for commitments for
post-employment benefits maintained with previous executive members of the Board of Directors and the
Bank’s Management Committee. It also includes €8 million as commitments to post-employment benefits for
former non-executive members of the Bank’s Board of Directors. No charges for these concepts were
recognized in the accompanying consolidated income statements for the six months ended June 30, 2010
with former members of the Bank’s Board of Directors and Management Committee.
The changes in these net commitments during the six-month periods ended June 30, 2010 and 2009 were
as follows:
Net Commitments Spain and Abroad:
Summary of Changes in the period
Commitments in Spain
June June
2010 2009
Millions of Euros
Commitments Abroad
June
2010
June
2009
Total BBVA Group
Balance at beginning 6,022 6,282 224 77 6,246 6,359
Interest costs 127 133 66 53 193 186
Interest incomes - - (59) (46) (59) (46)
Current service cost 4 8 17 14 21 22
Current service cost for early retirements 115 118 - - 115 118
Prior service cost or changes in the plan 6 7 - - 6 7
Payments made in the period (427) (433) - (1) (427) (434)
Adquisitions and divestments - - - - - -
Effect of reductions and settlements - - - - - -
Contributions in the period - - (134) - (134) -
Actuarial losses (gains) (4) 9 - - (4) 9
Exchage differences - - 40 (27) 40 (27)
Other changes 1 7 1 (2) 2 5
Balance at end 5,844 6,131 155 68 5,999 6,199
June
2010
June
2009
96