XML 36 R19.htm IDEA: XBRL DOCUMENT v3.19.2
Note 12 - Financial assets at fair value through other comprehensive income
 6 Months Ended
Jun. 30, 2019
Financial Assets At Fair Value Through Other Comprehensive Income Abstract  
Financial assets at fair value through other comprehensive income

12. Financial assets at fair value through other comprehensive income

12.1 Balance details

The breakdown of the balance by the main financial instruments in the accompanying consolidated balance sheets is as follows:

Financial assets designated at fair value through other comprehensive income (Millions of Euros)
NotesJune 2019December 2018
Debt securities6.2.160.75053.737
Impairment losses(32)(28)
Subtotal60.71853.709
Equity instruments6.2.12.6132.595
Loans and advances to credit institutions6.2.13333
Total 63.36456.337

12.2 Debt securities

The breakdown of the balance under the heading “Debt securities at fair value through other comprehensive income” of the accompanying condensed interim consolidated financial statements, broken down by issuers, is as follows:

Financial assets designated at fair value through other comprehensive income: Debt Securities. June 2019 (Millions of Euros)
AmortizedCost (*)UnrealizedGainsUnrealizedLossesFair Value
Domestic Debt Securities26.1381.085(10)27.213
Spanish Government and other Spanish government agency debt securities24.304967(10)25.261
Securities issued by credit institutions89473-967
Securities issued by other issuers94045-984
Foreign Debt Securities33.529523(548)33.506
Mexico6.20917(77)6.150
Mexican Government and other Mexican government agency debt securities5.24915(54)5.210
Securities issued by credit institutions68-(1)68
Securities issued by other issuers8922(22)872
The United States11.44287(80)11.449
Government securities 8.22061(32)8.248
US Treasury and other US Government agencies4.83152(8)4.874
States and political subdivisions 3.3899(24)3.374
Securities issued by credit institutions982-100
Securities issued by other issuers3.12424(48)3.100
Turkey4.03317(293)3.756
Turkey Government and other Turkish government agency debt securities3.89317(290)3.620
Securities issued by credit institutions140-(4)136
Other countries11.845403(98)12.150
Other foreign governments and other government agency debt securities6.659237(56)6.840
Securities issued by Central Banks1.2783(7)1.273
Securities issued by credit institutions1.715117(18)1.814
Securities issued by other issuers2.19446(16)2.224
Total59.6671.608(558)60.718

(*) The amortized cost includes portfolio gains/losses linked to insurance contracts in which the policyholder assumes the risk in case of redemption.

Financial assets designated at fair value through other comprehensive income: Debt Securities. December 2018 (Millions of Euros)
AmortizedCost (*)UnrealizedGainsUnrealizedLossesFairValue
Domestic Debt Securities18.802761(10)19.553
Spanish Government and other Spanish government agency debt securities17.205661(9)17.857
Securities issued by credit institutions79363-855
Securities issued by other issuers80437(1)841
Foreign Debt Securities34.521392(758)34.157
Mexico6.2996(142)6.163
Mexican Government and other Mexican government agency debt securities5.2864(121)5.169
Securities issued by credit institutions35-(1)34
Securities issued by other issuers9782(20)961
The United States14.50747(217)14.338
Government securities 11.22737(135)11.130
US Treasury and other US Government agencies7.28529(56)7.258
States and political subdivisions 3.9428(79)3.872
Securities issued by credit institutions491-50
Securities issued by other issuers3.2319(82)3.158
Turkey4.16420(269)3.916
Turkey Government and other Turkish government agency debt securities4.00720(256)3.771
Securities issued by credit institutions157-(13)145
Other countries9.551319(130)9.740
Other foreign governments and other government agency debt securities4.510173(82)4.601
Securities issued by Central Banks9872(4)986
Securities issued by credit institutions1.856111(20)1.947
Securities issued by other issuers2.19733(25)2.206
Total53.3231.153(768)53.709

(*) The amortized cost includes portfolio gains/losses linked to insurance contracts in which the policyholder assumes the risk in case of redemption.

The credit ratings of the issuers of debt securities as of June 30, 2019 and December 31, 2018, are as follows:

Debt Securities by Rating
June 2019December 2018
Fair Value(Millions of Euros)%Fair Value(Millions of Euros)%
AAA1.7852,9%5311,0%
AA+8.84814,6%13.10024,4%
AA2570,4%2220,4%
AA-3070,5%4090,8%
A+2.4534,0%6321,2%
A5781,0%6871,3%
A-11.38918,8%18.42634,3%
BBB+22.43937,0%9.19517,1%
BBB3.9476,5%4.6078,6%
BBB-1.8683,1%1.0031,9%
BB+ or below4.7067,8%4.4538,3%
Without rating2.1403,5%4450,8%
Total60.718100%53.709100%

12.3 Equity instruments

The breakdown of the balance under the heading "Equity instruments at fair value through other comprehensive income" of the accompanying condensed interim consolidated financial statements as of June 30, 2019 and December 31, 2018, is as follows:

Financial assets designated at fair value through other comprehensive income: Equity instruments. June 2019 (Millions of Euros)
Amortized CostUnrealizedGainsUnrealizedLossesFair Value
Equity instruments listed2.27471(254)2.091
Listed Spanish company shares2.172-(242)1.930
Listed foreign company shares10271(13)161
United States3040-70
Mexico128-29
Turkey3-(1)2
Other countries682(12)59
Unlisted equity instruments45963(1)521
Unlisted Spanish company shares61-6
Unlisted foreign companies shares 45462(1)515
United States38928-416
Turkey54-9
Other countries5931(1)89
Total2.734134(255)2.613

Financial assets designated at fair value through other comprehensive income: Equity Instruments. December 2018 (Millions of Euros)
Amortized CostUnrealizedGainsUnrealizedLossesFairValue
Equity instruments listed2.26243(222)2.083
Listed Spanish company shares2.172-(210)1.962
Listed foreign company shares9043(12)121
United States2017-37
Mexico125-26
Turkey3-(1)2
Other countries661(11)56
Unlisted equity instruments45955(1)513
Unlisted Spanish company shares61-7
Unlisted foreign companies shares 45354(1)506
United States38823-411
Turkey64-10
Other countries5927(1)85
Total2.72198(223)2.595

12.4 Gains/losses

Debt securities

The changes in the gains/losses (net of taxes) recognized during the six months ended June 30, 2019 and in the year ended December 31, 2018 under the equity heading “Accumulated other comprehensive income – Items that may be reclassified to profit or loss - Financial assets at fair value through other comprehensive income” in the accompanying consolidated balance sheets are as follows:

Accumulated other comprehensive income-Items that may be reclassified to profit or loss - Financial assets at fair value through other comprehensive income (Millions of Euros)
NotesJune 2019December 2018
Balance at the beginning 9431.557
Effect of changes in accounting policies (IFRS 9)(58)
Valuation gains and losses1.007(640)
Amounts transferred to income(27)(137)
Income tax(284)221
Balance at the end271.639943

Equity instruments

The changes in the gains/losses (net of taxes) recognized during the six months ended June 30, 2019 and in the year ended December 31, 2018 under the equity heading “Accumulated other comprehensive income – Items that will not be reclassified to profit or loss - Fair value changes of equity instruments measured at fair value through other comprehensive income” in the accompanying consolidated balance sheets are as follows:

Accumulated other comprehensive income-Items that may be reclassified to profit or loss - Financial assets at fair value through other comprehensive income (Millions of Euros)
NotesJune 2019December 2018
Balance at the beginning (155)84
Effect of changes in accounting policies (IFRS 9)(40)
Valuation gains and losses(1)(174)
Income tax(7)(25)
Balance at the end27(164)(155)