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

The net charges recorded in the accompanying consolidated income statement and under the heading
“Reserves" of the accompanying consolidated balance sheets (see Note 2.2.12) of the BBVA Group for the
commitments in post-employment benefits in entities in Spain and abroad, are as follows:
Total Post-employments Benefits BBVA Group:
Income Statements and Reserves Effects.
Notes
Millions of Euros
June
2010
June
2009
Interest expense and similar charges
Interest cost of pension funds 39 134 140
Personnel expenses
Transfer to internal pensions plans (Spain) 46 3 7
Transfer to pensions plans (Abroad) 46 2 2
Welfare benefits 46 16 13
Provision (net)
Transfer to fund for pension and similar obligations - -
Pension funds 6 33
Welfare benefits (1) -
Early retirements 117 113
Total Effects in Income Statements 277 308
Total Effects in Equity: Debit (Credit) to Reserves (5) 4
26.2.1 Commitments in Spain
The most significant actuarial assumptions used as of June 30, 2010, and December 31, 2009, to quantify
these commitments are as follows:
Pension Actuarial Hypothesis
Commitment with employees in Spain
June
2010
December
2009
Mortality tables PERM/F 2000P. PERM/F 2000P.
4.5% AA Corporate 4.5% AA Corporate
Discount rate (cumulative annual)
Bond Yield Curve Bond Yield Curve
Consumer price index (cumulative annual) 2% 2%
Salary growth rate (cumulative annual)
Retirement ages
At least 3%
(depending on employee)
At least 3%
(depending on employee)
First date at which the employees are entitled to retire
or contractually agreed at the individual level in the case
of early retirements
The breakdown of the various commitments to employees in Spain is as follows:
• Pension commitments in Spain
The breakdown of pension commitments in defined-benefit plans as of June 30, 2010 and December 31,
2009 is as follows:
Millions of Euros
Pension Commitments Spain
June December
2010 2009
Commitments to retired employees 2,793 2,847
Vested contingencies in respect of current employees 119 99
Total (*) 2,912 2,946
(*) Recognized under the heading "Provisions-Provisions for pension and similar obligation" in the accompanyng consolidated
balabce sheets
Insurance contracts have been contracted with insurance companies not related to the Group to cover some
pension commitments in Spain. These commitments are covered by assets and therefore are presented in
the accompanying consolidated balance sheets for the net amount of the commitment less plan assets. As of
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