XML 195 R75.htm IDEA: XBRL DOCUMENT

Significant accounting policies (Tables)

12 Months Ended

Dec. 31, 2021

Summary of Reconciliation Between IFRS and IFRS-EU

A reconcilliation between IFRS and

EU-IFRS

is included in the table below.


	Shareholders’ equity									Net result
	2021			2020			2019			2021			2020			2019

In accordance with IFRS		23,813			22,018			21,842			2,029			(135	)		1,236

Adjustment of EU ‘IAS 39’ carve-out		632			1,054			774			(422	)		280			375

Tax effect of the adjustment		(163	)		(257	)		(167	)		93			(90	)		(86	)

Effect of the adjustment after tax		469			798			607			(328	)		190			289

In accordance with EU-IFRS		24,282			22,815			22,449			1,701			55			1,525

Summary of Change in Fair Value

The table below presents an overview of the fair value of the classes of financial assets as of December 31, 2021, as well as the change in fair value during the reporting period. The asset classes are divided into two categories:

SPPI: assets of which cash flows represent solely payments of principal and interest (SPPI) on an outstanding principal amount, excluding any financial assets that meet the definition of held for trading in IFRS 9, or that are managed and whose performance is evaluated on a fair value basis; and

Other: all financial assets other than those specified in SPPI:

with contractual terms that do not give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding;

that meet the definition of held for trading in IFRS 9; or

that are managed and whose performance are evaluated on a fair value basis.


			2021					2020

Financial assets at fair value		Fair value at the end of the reporting period		Change in fair value during the reporting period			Fair value at the end of the reporting period		Change in fair value during the reporting period

Shares 1)	SPPI		44		10			51		2

	Other		618		36			623		8

Debt securities	SPPI		93,234		(3,132	)		92,836		5,461

	Other		3,961		(75	)		6,514		6

Money Markets and other short-term investments	SPPI		2,324		(0	)		2,657		-

	Other		2,586		-			2,011		-

Mortgage loans	SPPI		44,366		(195	)		43,258		72

	Other		-		-			-		-

Private loans	SPPI		5,474		(267	)		5,261		213

	Other		36		(10	)		50		13

Deposits with financial institutions	SPPI		52		-			92		-

	Other		-		-			-		-

Policy loans	SPPI		1		-			1		-

	Other		1,892		(0	)		1,800		12

Other financial assets	SPPI		-		-			-		-

	Other		5,598		724			4,946		(145	)

At December 31			160,187		(2,909	)		160,100		5,644

1	The SPPI-compliant shares include preferred equity instruments.

Summary of Credit Risk Rating Grades

Credit Risk

The table below details the credit risk rating grades, as of December 31, 2021, for financial assets with cash flows that are SPPI, excluding any financial assets that meet the definition of held for trading in IFRS 9, or that are managed and whose performance is evaluated on a fair value basis. The tables show the carrying value of those financial assets applying IAS 39 (in the case of financial assets measured at amortized cost, before adjusting for any impairment allowances).


SPPI compliant financial assets at carrying value	AAA		AA		A		BBB		BB		B		CCC or lower		Not Rated		Total

2021

Shares – Carried at fair value		-		-		-		23		13		-		8		-		44

Debt securities – Carried at fair value		26,076		10,195		24,916		28,524		1,828		918		754		24		93,234

Money market and other short-term investments- carried at fair value		25		120		1,986		193		-		-		-		-		2,324

Mortgage loans– Carried at amortized cost		1,383		4,221		3,301		519		59		-		-		31,141		40,624

Private loans – Carried at amortized cost		2,607		216		189		1,050		44		-		-		744		4,850

Other financial assets – Carried at fair value		-		-		13		1		-		18		-		21		53
At December 31		30,090		14,752		30,405		30,310		1,944		936		762		31,930		141,128

2020

Shares – Carried at fair value		-		-		-		17		24		7		3				51

Debt securities – Carried at fair value		28,970		9,869		23,615		26,310		2,119		938		1,015		2		92,836

Money market and other short-term investments- carried at fair value		136		129		2,178		213		-		-		-		-		2,657

Mortgage loans– Carried at amortized cost		1,066		3,494		3,369		695		78		-		-		30,596		39,298

Private loans – Carried at amortized cost		1,913		74		142		1,098		46		-		-		1,068		4,341

Other financial assets – Carried at fair value		-		-		6		1		-		45		1		41		93
At December 31		32,085		13,565		29,309		28,334		2,267		989		1,018		31,707		139,275

Summary of Credit Risk Exposure


	2021				2020

SPPI compliant financial assets rated BB or below	Carrying amount		Fair value		Carrying amount		Fair value

Shares – Carried at fair value		21		21		34		34

Debt securities – Carried at fair value		3,524		3,524		4,073		4,073

Mortgage loans – Carried at amortized cost		31,200		34,254		30,674		33,828

Private loans – Carried at amortized cost		788		816		1,114		1,210

Deposits with financial institutions – Carried at amortized cost		38		38		85		86

Other financial assets – Carried at fair value		1		1		1		1
At December 31		35,572		38,654		35,982		39,232

AEGBanco Santander [member]

Statement [LineItems]

Summary of Change in Fair Value



		2021				2020
Financial assets at fair value		Fair value at the end of the reporting period		Change in fair value during the reporting period		Fair value at the end of the reporting period		Change in fair value during the reporting period

Debt securities	SPPI		178		8		169		119

	Other		-		-		1		-

Money Markets and other short-term investments	SPPI		-		-		-		-

	Other		10		-		37		-
At December 31			188		8		207		119

Summary of Credit Risk Rating Grades


SPPI compliant financial assets at carrying value	AAA		AA		A		BBB		BB		B		CCC or lower		Not Rated		Total

2021

Debt securities – Carried at fair value		8		13		120		37		-		-		-		-		178
At December 31		8		13		120		37		-		-		-		-		178

2020

Debt securities – Carried at fair value		9		19		106		35		-		-		-		-		169
At December 31		9		19		106		35		-		-		-		-		169