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Note 25 - Post-employment and other employee benefit commitments (Tables) | 12 Months Ended
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Dec. 31, 2020
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)
| Notes | 2020 | 2019 | 2018
Pension commitments |  | 4.539 | 5.050 | 4.678
Early retirement commitments |  | 1.247 | 1.486 | 1.793
Medical benefits commitments |  | 1.562 | 1.580 | 1.114
Other long term employee benefits |  | 49 | 61 | 62
Total commitments |  | 7.398 | 8.177 | 7.647
Pension plan assets |  | 1.608 | 1.961 | 1.694
Medical benefit plan assets |  | 1.484 | 1.532 | 1.146
Total plan assets (1) |  | 3.092 | 3.493 | 2.840
Total net liability / asset |  | 4.305 | 4.684 | 4.807
Of which: Net asset on the consolidated balance sheet (2) |  | (16) | (8) | (41)
Of which: +Net liability on the consolidated balance sheet for provisions for pensions and similar obligations (3) | 24 | 4.272 | 4.631 | 4.787
Of which: Net liability on the consolidated balance sheet for other long term employee benefits (4) | 24 | 49 | 61 | 62
Consolidated Income Statement Impact |
Consolidated income statement impact (Millions of Euros)
| Notes | 2020 | 2019 | 2018
Interest and other expense |  | 44 | 63 | 77
Interest expense |  | 265 | 293 | 282
Interest income |  | (220) | (230) | (206)
Personnel expense |  | 121 | 143 | 130
Defined contribution plan expense | 44.1 | 72 | 95 | 72
Defined benefit plan expense | 44.1 | 49 | 49 | 58
Provisions or (reversal) of provisions | 46 | 210 | 213 | 125
Early retirement expense |  | 224 | 190 | 141
Past service cost expense |  | (8) | 18 | (33)
Remeasurements (*) |  | (11) | 7 | (10)
Other provision expense |  | 4 | (1) | 28
Total impact on consolidated income statement: debit (credit) |  | 375 | 419 | 332
Disclosure of equity impact explanatory |
Equity impact (Millions of Euros)
| 2020 | 2019 | 2018
Defined benefit plans | 161 | 254 | 81
Post-employment medical benefits | 30 | 74 | (47)
Total impact on equity: debit (credit) | 191 | 329 | 34
Table Of Defined Benefit Plans |
Defined benefits (Millions of Euros)
|  | 2020 |  |  | 2019 |  |  | 2018 |
| 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 | 8.116 | 3.493 | 4.622 | 7.585 | 2.839 | 4.746 | 8.384 | 3.006 | 5.378
Current service cost | 53 | - | 53 | 52 | - | 52 | 61 | - | 61
Interest income/expense | 261 | 219 | 42 | 290 | 230 | 60 | 279 | 206 | 74
Contributions by plan participants | 4 | 4 | - | 4 | 4 | - | 4 | 3 | 1
Employer contributions | - | 124 | (124) | - | 65 | (65) | - | 103 | (103)
Past service costs (1) | 219 | - | 219 | 210 | - | 210 | 109 | - | 109
Remeasurements: | 364 | 176 | 187 | 783 | 454 | 329 | (263) | (286) | 21
Return on plan assets (2) | - | 176 | (176) | - | 454 | (454) | - | (286) | 286
From changes in demographic assumptions | 57 | - | 57 | (15) | - | (15) | 14 | - | 14
From changes in financial assumptions | 276 | - | 276 | 688 | - | 688 | (274) | - | (274)
Other actuarial gains and losses | 30 | - | 30 | 110 | - | 110 | (3) | - | (3)
Benefit payments | (839) | (185) | (654) | (905) | (187) | (718) | (979) | (200) | (779)
Business combinations and disposals (*) | (371) | (327) | (44) | 15 | 12 | 3 | 13 | 11 | 2
Effect on changes in foreign exchange rates | (459) | (409) | (50) | 63 | 69 | (6) | (31) | (9) | (22)
Other effects | 1 | (3) | 4 | 19 | 6 | 13 | 10 | 6 | 4
Balance at the end | 7.348 | 3.092 | 4.256 | 8.116 | 3.493 | 4.623 | 7.585 | 2.840 | 4.745
Of which: Spain | 4.288 | 249 | 4.039 | 4.592 | 266 | 4.326 | 4.807 | 260 | 4.547
Of which: Mexico | 2.219 | 2.122 | 97 | 2.231 | 2.124 | 107 | 1.615 | 1.587 | 28
Of which: The United States | - | - | - | 375 | 323 | 52 | 326 | 287 | 39
Of which: Turkey | 367 | 282 | 85 | 444 | 359 | 86 | 422 | 339 | 83
Disclosure of actuarial assumptions Explanatory |
Actuarial assumptions (%)
| 2020 | 2019 | 2018
| Spain | Mexico | Turkey | Spain | Mexico | The United States | Turkey | Spain | Mexico | The United States | Turkey
Discount rate | 0,53% | 8,37% | 13,00% | 0,68% | 9,04% | 3,24% | 12,50% | 1,28% | 10,45% | 4,23% | 16,30%
Rate of salary increase | - | 4,00% | 11,20% | - | 4,75% | - | 9,70% | - | 4,75% | - | 14,00%
Rate of pension increase | - | 1,94% | 9,70% | - | 2,47% | - | 8,20% | - | 2,51% | - | 12,50%
Medical cost trend rate | - | 7,00% | 13,90% | - | 7,00% | - | 12,40% | - | 7,00% | - | 16,70%
Mortality tables | PER 2020 | EMSSA09 | 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 | 2020 | 2019 | 2018
| Increase | Decrease | Increase | Decrease | Increase | Decrease
Discount rate | 50 | (354) | 390 | (367) | 405 | (298) | 332
Rate of salary increase | 50 | 4 | (4) | 3 | (3) | 3 | (3)
Rate of pension increase | 50 | 29 | (27) | 27 | (26) | 19 | (18)
Medical cost trend rate | 50 | 145 | (129) | 169 | (133) | 115 | (91)
Change in obligation from each additional year of longevity | - | 211 | - | 137 | - | 108 | -
Table Of Defined Benefit Plans By Geography |
Post-employment commitments 2020 (Millions of Euros)
| Spain | Mexico | The United States | Turkey | Rest of the world
Defined benefit obligation |  |  |  |  |
Balance at the beginning | 4.592 | 664 | 375 | 444 | 460
Current service cost | 5 | 5 | 1 | 18 | 3
Interest income or expense | 30 | 50 | 12 | 45 | 7
Contributions by plan participants | - | - | - | 4 | -
Past service costs (1) | 224 | (1) | - | 2 | 3
Remeasurements: | 136 | 93 | 31 | (4) | 12
From changes in demographic assumptions | 60 | - | (3) | - | -
From changes in financial assumptions | 79 | (19) | 34 | 54 | 17
Other actuarial gains and losses | (3) | 112 | - | (59) | (5)
Benefit payments | (703) | (58) | (15) | (15) | (12)
Business combinations and disposals | - | - | (371) | - | -
Effect on changes in foreign exchange rates | - | (87) | (32) | (126) | (9)
Other effects | 3 | - | (1) | - | (1)
Balance at the end | 4.288 | 666 | - | 367 | 465
Of which: Vested benefit obligation relating to current employees | 4.198 |  |  |  |
Of which: Vested benefit obligation relating to retired employees | 90 |  |  |  |
Plan assets |  |  |  |  |
Balance at the beginning | 266 | 592 | 323 | 359 | 422
Interest income or expense | 2 | 44 | 10 | 37 | 6
Contributions by plan participants | - | - | - | 4 | -
Employer contributions | - | 86 | - | 14 | 1
Remeasurements: | 41 | 31 | 35 | (23) | 26
Return on plan assets (2) | 41 | 31 | 35 | (23) | 26
Benefit payments | (60) | (57) | (13) | (8) | (11)
Business combinations and disposals | - | 19 | (327) | - | -
Effect on changes in foreign exchange rates | - | (77) | (27) | (100) | (5)
Other effects | - | - | (1) | - | (1)
Balance at the end | 249 | 638 | - | 282 | 439
Net liability (asset) |  |  |  |  |
Balance at the beginning | 4.326 | 72 | 52 | 86 | 38
Current service cost | 5 | 5 | 1 | 18 | 3
Interest income or expense | 28 | 6 | 2 | 8 | 1
Employer contributions | - | (86) | - | (14) | (1)
Past service costs (1) | 224 | (1) | - | 2 | 3
Remeasurements: | 95 | 62 | (4) | 18 | (14)
Return on plan assets (2) | (41) | (31) | (35) | 23 | (26)
From changes in demographic assumptions | 60 | - | (3) | - | -
From changes in financial assumptions | 79 | (19) | 34 | 54 | 17
Other actuarial gains and losses | (3) | 112 | - | (59) | (5)
Benefit payments | (643) | (1) | (2) | (6) | (1)
Business combinations and disposals | - | (19) | (44) | - | -
Effect on changes in foreign exchange rates | - | (10) | (5) | (26) | (4)
Other effects | 3 | - | - | - | -
Balance at the end | 4.039 | 28 | - | 85 | 27
Table Of Defined Benefit Commitments |
Post-employment commitments (Millions of Euros)
| 2019: Net liability (asset) | 2018: 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 | 4.547 | 71 | 39 | 83 | 36 | 5.122 | (18) | 51 | 96 | 36
Current service cost | 4 | 4 | - | 20 | 3 | 4 | 5 | - | 21 | 4
Interest income or expense | 42 | 9 | - | 11 | 3 | 59 | (2) | - | 8 | 2
Contributions by plan participants | - | - | - | - | - | - | - | - | - | 1
Employer contributions | - | (47) | (3) | (14) | (1) | - | - | (2) | (13) | (18)
Past service costs (1) | 190 | 15 | - | 3 | 2 | 148 | (1) | - | 2 | 2
Remeasurements: | 231 | 9 | 16 | 2 | (1) | (28) | 88 | (11) | 3 | 14
Return on plan assets (2) | (67) | (90) | (28) | 5 | (50) | 4 | 70 | 17 | 21 | 11
From changes in demographic assumptions | - | - | - | (13) | (2) | - | - | (1) | - | 15
From changes in financial assumptions | 239 | 87 | 42 | (41) | 52 | - | (9) | (28) | (45) | (12)
Other actuarial gains and losses | 59 | 12 | 2 | 51 | (1) | (32) | 27 | 1 | 29 | -
Benefit payments | (702) | (1) | (2) | (11) | (3) | (763) | - | (2) | (11) | (3)
Business combinations and disposals | - | 7 | 3 | - | - | - | - | 2 | - | -
Effect on changes in foreign exchange rates | - | 5 | - | (9) | 1 | - | (1) | 2 | (26) | (1)
Other effects | 14 | - | (1) | - | - | 5 | - | (1) | - | -
Balance at the end | 4.326 | 72 | 52 | 86 | 38 | 4.547 | 71 | 39 | 83 | 36
Disclosure Of Medical Benefit Commitments |
Medical benefits commitments
| 2020 | 2019 | 2018
| 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 | 1.580 | 1.532 | 48 | 1.114 | 1.146 | (32) | 1.204 | 1.114 | 91
Current service cost | 21 | - | 21 | 21 | - | 21 | 27 | - | 27
Interest income or expense | 117 | 120 | (3) | 119 | 123 | (4) | 116 | 109 | 8
Employer contributions | - | 22 | (22) | - | - | - | - | 71 | (71)
Past service costs (1) | (8) | - | (8) | - | - | - | (42) | - | (42)
Remeasurements: | 95 | 66 | 30 | 298 | 224 | 74 | (210) | (164) | (47)
Return on plan assets (2) | - | 66 | (66) | - | 224 | (224) | - | (164) | 164
From changes in financial assumptions | 110 | - | 110 | 311 | - | 311 | (182) | - | (182)
Other actuarial gain and losses | (15) | - | (15) | (13) | - | (13) | (28) | - | (28)
Benefit payments | (37) | (37) | - | (39) | (39) | (1) | (34) | (33) | (1)
Business combinations and disposals | - | (19) | 19 | - | 7 | (7) | - | - | -
Effect on changes in foreign exchange rates | (207) | (201) | (6) | 68 | 71 | (2) | 62 | 59 | 3
Other effects | - | - | - | (1) | - | (1) | (9) | (9) | -
Balance at the end | 1.562 | 1.484 | 77 | 1.580 | 1.532 | 48 | 1.114 | 1.146 | (32)
Disclosure Of Estimated Benefit Payments |
Estimated benefit payments (Millions of Euros)
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026-2030
Commitments in Spain | 556 | 474 | 388 | 313 | 257 | 856
Commitments in Mexico | 111 | 110 | 114 | 121 | 129 | 774
Commitments in Turkey | 16 | 18 | 16 | 18 | 22 | 180
Total | 683 | 602 | 518 | 452 | 408 | 1.810
Disclosure Of Plan Of Assets Breakdown |
Plan assets breakdown (Millions of Euros)
| 2020 | 2019 | 2018
Cash or cash equivalents | 38 | 56 | 26
Debt securities (government bonds) | 2.707 | 2.668 | 2.080
Mutual funds | 1 | 2 | 2
Insurance contracts | 140 | 142 | 132
Total | 2.887 | 2.869 | 2.241
Of which: Bank account in BBVA | 4 | 4 | 3
Table of Investments in Listed Markets |
Investments in listed markets
| 2020 | 2019 | 2018
Cash or cash equivalents | 38 | 56 | 26
Debt securities (Government bonds) | 2.707 | 2.668 | 2.080
Mutual funds | 1 | 2 | 2
Total | 2.747 | 2.727 | 2.109
Of which: Bank account in BBVA | 4 | 4 | 3

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