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Note 25 - Post-employment and other employee benefit commitments (Tables) | 12 Months Ended
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Dec. 31, 2019
Post-employment and other employee benefit commitments |
Table Of Net Defined Benefit Liability Asset Explanatory |
Net defined benefit liability (asset) on the consolidated balance sheet (Millions of Euros)
| 2019 | 2018 | 2017
Pension commitments | 5,050 | 4,678 | 4,969
Early retirement commitments | 1,486 | 1,793 | 2,210
Medical benefits commitments | 1,580 | 1,114 | 1,204
Other long term employee benefits | 61 | 62 | 67
Total commitments | 8,177 | 7,647 | 8,451
Pension plan assets | 1,961 | 1,694 | 1,892
Medical benefit plan assets | 1,532 | 1,146 | 1,114
Total plan assets (1) | 3,493 | 2,840 | 3,006
Total net liability / asset | 4,684 | 4,807 | 5,445
Of which: Net asset on the consolidated balance sheet (2) | (8) | (41) | (27)
Of which: +Net liability on the consolidated balance sheet for provisions for pensions and similar obligations (3) | 4,631 | 4,787 | 5,407
Of which: Net liability on the consolidated balance sheet for other long term employee benefits (4) | 61 | 62 | 67
Consolidated Income Statement Impact |
Consolidated income statement impact (Millions of Euros)
| Notes | 2019 | 2018 | 2017
Interest and similar expense |  | 65 | 78 | 71
Interest expense |  | 307 | 295 | 294
Interest income |  | (242) | (217) | (223)
Personnel expense |  | 163 | 147 | 149
Defined contribution plan expense | 44.1 | 113 | 89 | 87
Defined benefit plan expense | 44.1 | 50 | 58 | 62
Provisions (net) | 46 | 214 | 125 | 343
Early retirement expense |  | 190 | 141 | 227
Past service cost expense |  | 18 | (33) | 3
Remeasurements (*) |  | 7 | (10) | 31
Other provision expense |  | (2) | 28 | 82
Total impact on consolidated income statement: debit (credit) |  | 441 | 350 | 563
Disclosure of equity impact explanatory |
Equity impact (Millions of Euros)
| 2019 | 2018 | 2017
Defined benefit plans | 254 | 81 | (40)
Post-employment medical benefits | 74 | (47) | 179
Total impact on equity: debit (credit) | 329 | 34 | 140
Table Of Defined Benefit Plans |
Defined benefits (Millions of Euros)
|  | 2019 |  |  | 2018 |  |  | 2017 |
| Defined benefit obligation | Plan assets | Net liability (asset) | Defined benefit obligation | Plan assets | Net liability (asset) | Defined benefit obligation | Plan assets | Net liability (asset)
Balance at the beginning | 7,585 | 2,839 | 4,746 | 8,384 | 3,006 | 5,378 | 8,851 | 3,022 | 5,829
Current service cost | 53 | - | 53 | 61 | - | 61 | 64 | - | 64
Interest income/expense | 304 | 242 | 62 | 292 | 217 | 76 | 290 | 223 | 68
Contributions by plan participants | 4 | 4 | - | 4 | 3 | 1 | 4 | 4 | -
Employer contributions | - | 65 | (65) | - | 103 | (103) | - | 25 | (25)
Past service costs (1) | 210 | - | 210 | 109 | - | 109 | 231 | - | 231
Remeasurements: | 783 | 454 | 329 | (263) | (286) | 21 | 331 | 161 | 171
Return on plan assets (2) | - | 454 | (454) | - | (286) | 286 | - | 161 | (161)
From changes in demographic assumptions | (15) | - | (15) | 14 | - | 14 | 100 | - | 100
From changes in financial assumptions | 688 | - | 688 | (274) | - | (274) | 220 | - | 220
Other actuarial gain and losses | 110 | - | 110 | (3) | - | (3) | 12 | - | 12
Benefit payments | (905) | (187) | (718) | (979) | (200) | (779) | (1,029) | (169) | (861)
Effect on changes in foreign exchange rates | 63 | 69 | (6) | (31) | (9) | (22) | (278) | (258) | (19)
Conversions to defined contributions | - | - | - | - | - | - | (82) | - | (82)
Other effects | 19 | 6 | 13 | 10 | 6 | 4 | (1) | (1) | -
Balance at the end | 8,116 | 3,493 | 4,623 | 7,585 | 2,840 | 4,745 | 8,384 | 3,006 | 5,378
Of which: Spain | 4,592 | 266 | 4,326 | 4,807 | 260 | 4,547 | 5,442 | 320 | 5,122
Of which: Mexico | 2,231 | 2,124 | 107 | 1,615 | 1,587 | 28 | 1,661 | 1,602 | 60
Of which: The United States | 375 | 323 | 52 | 326 | 287 | 39 | 360 | 309 | 51
Of which: Turkey | 444 | 359 | 86 | 422 | 339 | 83 | 520 | 424 | 96
Disclosure of actuarial assumptions Explanatory |
Actuarial assumptions (Millions of Euros)
| 2019 | 2018 | 2017
| Spain | Mexico | The United States | Turkey | Spain | Mexico | The United States | Turkey | Spain | Mexico | The United States | Turkey
Discount rate | 0.68% | 9.04% | 3.24% | 12.50% | 1.28% | 10.45% | 4.23% | 16.30% | 1.24% | 9.48% | 3.57% | 11.60%
Rate of salary increase | - | 4.75% | - | 9.70% | - | 4.75% | - | 14.00% | - | 4.75% | - | 9.90%
Rate of pension increase | - | 2.47% | - | 8.20% | - | 2.51% | - | 12.50% | - | 2.13% | - | 8.40%
Medical cost trend rate | - | 7.00% | - | 12.40% | - | 7.00% | - | 16.70% | - | 7.00% | - | 12.60%
Mortality tables | PERM/F 2000P | EMSSA09 | RP 2014 | CSO2001 | PERM/F 2000P | EMSSA09 | RP 2014 | CSO2001 | PERM/F 2000P | EMSSA09 | RP 2014 | CSO2001
Disclosure of Sensitivity Analysis |
Sensitivity analysis (Millions of Euros)
| Basis points change | 2019 | 2018
| Increase | Decrease | Increase | Decrease
Discount rate | 50 | (367) | 405 | (298) | 332
Rate of salary increase | 50 | 3 | (3) | 3 | (3)
Rate of pension increase | 50 | 27 | (26) | 19 | (18)
Medical cost trend rate | 100 | 338 | (266) | 229 | (181)
Change in obligation from each additional year of longevity | - | 137 | - | 108 | -
Table Of Defined Benefit Plans By Geography |
Post-employment commitments 2019 (Millions of Euros)
| Defined benefit obligation
| Spain | Mexico | The United States | Turkey | Rest of the world
Balance at the beginning | 4,807 | 512 | 326 | 422 | 402
Current service cost | 4 | 4 | 1 | 20 | 3
Interest income or expense | 45 | 53 | 14 | 64 | 11
Contributions by plan participants | - | - | - | 3 | 1
Past service costs (1) | 190 | 15 | - | 3 | 2
Remeasurements: | 298 | 99 | 44 | (3) | 49
From changes in demographic assumptions | - | - | - | (13) | (2)
From changes in financial assumptions | 239 | 87 | 42 | (41) | 52
Other actuarial gain and losses | 59 | 12 | 2 | 51 | (1)
Benefit payments | (766) | (50) | (15) | (21) | (14)
Effect on changes in foreign exchange rates | - | 32 | 6 | (44) | 1
Other effects | 14 | - | (1) | - | 6
Balance at the end | 4,592 | 664 | 375 | 444 | 460
Of which: Vested benefit obligation relating to current employees | 86 | - | - | - | -
Of which: Vested benefit obligation relating to retired employees | 4506 | - | - | - | -
Disclosure of Defined Obligations by Plan Assets |
Post-employment commitments 2019 (Millions of Euros)
| Plan assets
| Spain | Mexico | The United States | Turkey | Rest of the world
Balance at the beginning | 260 | 441 | 287 | 339 | 366
Interest income or expense | 3 | 44 | 12 | 53 | 8
Contributions by plan participants | - | - | - | 3 | 1
Employer contributions | - | 47 | 3 | 14 | 1
Remeasurements: | 67 | 90 | 28 | (5) | 50
Return on plan assets (2) | 67 | 90 | 28 | (5) | 50
Benefit payments | (64) | (50) | (13) | (10) | (11)
Business combinations and disposals | - | (7) | - | - | -
Effect on changes in foreign exchange rates | - | 27 | 6 | (34) | -
Other effects | - | - | - | - | 6
Balance at the end | 266 | 592 | 323 | 359 | 422
Disclosure of Defined Benefits by Net Assets Obligations |
Post-employment commitments 2019 (Millions of euros)
| Net liability (asset)
| Spain | Mexico | The United States | Turkey | Rest of the world
Balance at the beginning | 4,547 | 71 | 39 | 83 | 36
Current service cost | 4 | 4 | 1 | 20 | 3
Interest income or expense | 42 | 9 | 2 | 11 | 3
Employer contributions | - | (47) | (3) | (14) | (1)
Past service costs (1) | 190 | 15 | - | 3 | 2
Remeasurements: | 231 | 9 | 16 | 2 | (1)
Return on plan assets (2) | (67) | (90) | (28) | 5 | (50)
From changes in demographic assumptions | - | - | - | (13) | (2)
From changes in financial assumptions | 239 | 87 | 42 | (41) | 52
Other actuarial gain and losses | 59 | 12 | 2 | 51 | (1)
Benefit payments | (702) | (1) | (2) | (11) | (3)
Business combinations and disposals | - | 7 | - | - | -
Effect on changes in foreign exchange rates | - | 5 | - | (9) | 1
Other effects | 14 | - | (1) | - | -
Balance at the end | 4,326 | 72 | 52 | 86 | 38
Table Of Defined Benefit Commitments |
Post-employment commitments (Millions of Euros)
| 2018: Net liability (asset) | 2017: Net liability (asset)
| Spain | Mexico | The United States | Turkey | Rest of the world | Spain | Mexico | The United States | Turkey | Rest of the world
Balance at the beginning | 5,122 | (18) | 51 | 96 | 36 | 5,799 | (59) | 46 | 99 | 43
Current service cost | 4 | 5 | - | 21 | 4 | 4 | 5 | 3 | 21 | 5
Interest income or expense | 59 | (2) | 2 | 8 | 2 | 73 | (6) | 1 | 9 | 2
Contributions by plan participants | - | - | - | - | 1 | - | - | - | - | -
Employer contributions | - | - | (2) | (13) | (18) | - | (1) | - | (16) | (8)
Past service costs (1) | 148 | (1) | - | 2 | 2 | 235 | 1 | - | 4 | 3
Remeasurements: | (28) | 88 | (11) | 3 | 14 | (67) | 38 | 9 | 12 | (1)
Return on plan assets (2) | 4 | 70 | 17 | 21 | 11 | (21) | (10) | (11) | (101) | 2
From changes in demographic assumptions | - | - | (1) | - | 15 | - | 22 | (2) | - | (3)
From changes in financial assumptions | - | (9) | (28) | (45) | (12) | (33) | 18 | 22 | 81 | 4
Other actuarial gain and losses | (32) | 27 | 1 | 29 | - | (13) | 7 | - | 32 | (4)
Benefit payments | (763) | - | (2) | (11) | (3) | (842) | (1) | (2) | (11) | (3)
Effect on changes in foreign exchange rates | - | (1) | 2 | (26) | (1) | - | 5 | (5) | (21) | (5)
Conversions to defined contributions | - | - | - | - | - | (82) | - | - | - | -
Other effects | 5 | - | (1) | - | - | 2 | - | (1) | - | (1)
Balance at the end | 4,547 | 71 | 39 | 83 | 36 | 5,122 | (18) | 51 | 96 | 36
Disclosure Of Medical Benefit Commitments |
Medical benefits commitments
| 2019 | 2018 | 2017
| Defined benefit obligation | Plan assets | Net liability (asset) | Defined benefit obligation | Plan assets | Net liability (asset) | Defined benefit obligation | Plan assets | Net liability (asset)
Balance at the beginning | 1,114 | 1,146 | (32) | 1,204 | 1,114 | 91 | 1,015 | 1,113 | (98)
Current service cost | 21 | - | 21 | 27 | - | 27 | 26 | - | 26
Interest income or expense | 119 | 123 | (4) | 116 | 109 | 8 | 101 | 112 | (11)
Employer contributions | - | - | - | - | 71 | (71) | - | - | -
Past service costs (1) | - | - | - | (42) | - | (42) | (11) | - | (11)
Remeasurements: | 298 | 224 | 74 | (210) | (164) | (47) | 200 | 21 | 179
Return on plan assets (2) | - | 224 | (224) | - | (164) | 164 | - | 21 | (21)
From changes in demographic assumptions | - | - | - | - | - | - | 83 | - | 83
From changes in financial assumptions | 311 | - | 311 | (182) | - | (182) | 128 | - | 128
Other actuarial gain and losses | (13) | - | (13) | (28) | - | (28) | (10) | - | (10)
Benefit payments | (39) | (39) | (1) | (34) | (33) | (1) | (35) | (33) | (2)
Business combinations and disposals | - | 7 | (7) | - | - | - | - | - | -
Effect on changes in foreign exchange rates | 68 | 71 | (2) | 62 | 59 | 3 | (92) | (100) | 8
Other effects | (1) | - | (1) | (9) | (9) | - | - | - | -
Balance at the end | 1,580 | 1,532 | 48 | 1,114 | 1,146 | (32) | 1,204 | 1,114 | 91
Disclosure Of Estimated Benefit Payments |
Estimated benefit payments (Millions of Euros)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025-2029
Commitments in Spain | 621 | 544 | 449 | 360 | 288 | 903
Commitments in Mexico | 106 | 110 | 117 | 125 | 132 | 808
Commitments in the United States | 17 | 18 | 19 | 19 | 20 | 107
Commitments in Turkey | 20 | 22 | 18 | 22 | 25 | 200
Total | 764 | 694 | 603 | 526 | 465 | 2,018
Disclosure Of Plan Of Assets Breakdown |
Plan assets breakdown (Millions of Euros)
| 2019 | 2018 | 2017
Cash or cash equivalents | 56 | 26 | 68
Debt securities (government bonds) | 2,668 | 2,080 | 2,178
Property | - | - | 1
Mutual funds | 2 | 2 | 1
Insurance contracts | 142 | 132 | 4
Other investments | - | - | 10
Total | 2,869 | 2,241 | 2,261
Of which: Bank account in BBVA | 4 | 3 | 5
Of which: Debt securities issued by BBVA | - | - | 3
Table of Investments in Listed Markets |
Investments in listed markets
| 2019 | 2018 | 2017
Cash or cash equivalents | 56 | 26 | 68
Debt securities (Government bonds) | 2,668 | 2,080 | 2,178
Mutual funds | 2 | 2 | 1
Total | 2,727 | 2,109 | 2,247
Of which: Bank account in BBVA | 4 | 3 | 5
Of which: Debt securities issued by BBVA | - | - | 3

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