Article 136.4 of Law 47/2003 of 26 November, General Budget, provides that ' institutions which are required to apply public accounting principles as well as those remaining who are not required to publish their accounts in the Trade Registry shall publish annually in the Official Journal of the State the balance of the situation and the account of the economic income or profit and loss account, a summary of the remaining states that make up the annual accounts and the audit accounts report.

When the above entities formulate consolidated annual accounts, they shall publish annually, in the Official Journal of the State, in addition to the information referred to in the preceding paragraph, the consolidated balance sheet and the profit or loss account. economic-wealth or consolidated profit and loss account, a summary of the remaining states that make up the consolidated annual accounts and the audit report of accounts.

For these purposes, the General Intervention of the State Administration shall determine the minimum content of the information to be published. "

The second paragraph of Article 136.4 cited above has been introduced by the final provision of the 14th paragraph of Law 17/2012 of the General Budget of the State of 27 December, thus establishing, by the first time, the obligation on the part of the entities not to publish their annual accounts in the Mercantile Register and to make consolidated annual accounts of the publication in the "Official State Gazette" of the balance sheet and the account of losses and consolidated earnings as well as a summary of the remaining financial statements make up the consolidated annual accounts and the audit report.

In this Resolution the consolidated financial statements and consolidated information that the entities referred to in Article 136.4 must be published in the "Official State Gazette" are regulated.

The obligation to publish the audit report was also introduced by the final provision of the 14th Act of Law 17/2012, of the State Budget, of 27 December, in order to promote the maximum transparency in the control actions of the financial economic management of the public sector entities and in order to equate the reporting obligation of the annual accounts audit reports of public entities, which they have no obligation to publish their annual accounts in the Trade Register, with which they do they have the State entities that publish their accounts in the abovementioned Register, since the annual accounts must be accompanied by the Audit of Accounts report.

Thus, in addition to referring to the obligation to accompany the audit report of the consolidated annual accounts to the information to be published under this Resolution, two additional provisions have been included for to regulate the publication in the "Official Gazette of the State" of the audit report of accounts by the entities to which the Accounting Instruction for the Institutional Administration of the State and the entities of the State Public Sector is applied business and foundation that do not have the obligation to publish their annual accounts in the business register.

Finally, a third additional provision is included, noting that in the information to be published in the "Official State Gazette" a reference is included to the electronic headquarters or website in which the accounts are published full annual accounts and the corresponding audit report, which advances along the line provided for in the draft Transparency Law, access to public information and good governance allows the full annual accounts to be known refers to the audit report of accounts accompanying the summary accounting information which is published in the "Official State Gazette".

By virtue of the faculty that is attributed to the General Intervention of the State Administration in Article 136.4 of Law 47/2003, of November 26, General Budget, to determine the minimum content of the information to be published by the business public sector entities that are not required to publish their annual accounts in the business register and have to formulate consolidated annual accounts, this General Intervention provides:

First. Information to be published by non-financial entities in the State-owned business sector.

Non-financial entities in the public sector public sector that have no obligation to advertise their annual accounts in the Mercantile Register and who formulate consolidated annual accounts will publish annually in the 'Official State Gazette' means the consolidated balance sheet, the consolidated profit and loss account, the status of changes in consolidated net worth, the statement of consolidated cash flows, in accordance with the models provided for in the Royal Decree 1159/2010 of 17 September 2010 approving the rules for the formulation of accounts consolidated annual accounts and a summary of the memory, the content of which shall at least be as set out in Annex I to this Resolution. This information shall be accompanied by the audit report of the consolidated annual accounts carried out pursuant to Article 168 of Law 47/2003 of 26 November, General Budget.

The previous publication shall be made within one month from the date on which the annual accounts are referred to the General Intervention of the State Administration for submission to the Court of Auditors.

Second. Information to be published by the business state public sector insurance entities.

State-owned business insurance entities that have no obligation to advertise their annual accounts in the Mercantile Register and who form consolidated annual accounts shall publish annually in the " Bulletin State Officer " consolidated balance sheet, consolidated profit and loss account, consolidated net worth change status and consolidated cash flow statement, in accordance with the models provided for in the Royal Decree 2014/1997 of 26 December 1997, for which the Accounting Plan of the institutions is approved insurers and rules for the formulation of the accounts of the groups of insurance entities and in Royal Decree 1317/2008 of 24 July, approving the General Plan of insurance institutions, as amended by Royal Decree 1736/2010, of 23 December, and a summary of the memory, the content of which shall be at least that provided for in Annex II to this Resolution. This information shall be accompanied by the audit report of the consolidated annual accounts carried out pursuant to Article 168 of Law 47/2003 of 26 November, General Budget.

The previous publication shall be made within one month from the date on which the annual accounts are referred to the General Intervention of the State Administration for submission to the Court of Auditors.

Third. Information to be published by the credit institutions of the business state public sector.

State-owned business credit institutions that have no obligation to advertise their annual accounts in the Mercantile Register and who form consolidated annual accounts shall publish annually in the " Bulletin State Officer " the consolidated public balance sheet, the consolidated public profit and loss account, the status of changes in the consolidated public equity and the state of consolidated public cash flows, according to the models provided for in Circular 4/2004 of 22 December of the Banco de España, for which they are approved the rules on public and private financial reporting and the models of financial statements and a summary of the memory, the content of which shall be at least that provided for in Annex III to this Resolution. This information shall be accompanied by the audit report of the consolidated annual accounts carried out pursuant to Article 168 of Law 47/2003 of 26 November, General Budget.

The previous publication shall be made within one month from the date on which the annual accounts are referred to the General Intervention of the State Administration for submission to the Court of Auditors.

Additional disposition first. Amendment of the Resolution of 28 May 2012 of the General Intervention of the State Administration, determining the minimum content of the information to be published in the "Official State Gazette" by the entities to which they are The Accounting Instruction for the Institutional Administration of the State is applicable.

The following amendments are made to the Resolution of 28 May 2012 of the General Intervention of the State Administration, determining the minimum content of the information to be published in the " Bulletin State Officer. "

1. In the first paragraph "Information to be published by the Entities to which the Accounting Instruction for the Institutional Administration of the State, whose budget of expenditure is limited," is incorporated VII. Audit report of the annual accounts carried out pursuant to Article 168 of Law 47/2003 of 26 November, General Budget.

2. In the second section "Information to be published by the Entities to which the Accounting Instruction for the Institutional Administration of the State is applied, the budget of which has an estimate", the item is incorporated VI: Audit report of the annual accounts carried out pursuant to Article 168 of Law 47/2003 of 26 November, General Budget.

Additional provision second. Amendment of the Resolution of 14 September 2009 of the General Intervention of the State Administration, determining the minimum content of the information to be published in the "Official State Gazette" by the entities in the sector business and foundational state public that have no obligation to publish their annual accounts in the business register.

The following amendments are introduced in the Resolution of 14 September 2009, of the General Intervention of the State Administration, determining the minimum content of the information to be published in the "Official State Gazette".

In the first sections "Information to be published by non-financial institutions in the State-owned business sector", second "Information to be published by insurance entities in the business state public sector", third "Information to be published by the business state public sector credit institutions" and the fourth "Information to be published by the public sector public sector entities", a last paragraph is added with the following wording:

"Together with the information referred to above, the audit report of the annual accounts carried out pursuant to Article 168 of Law 47/2003 of 26 November, General Budget, will be published."

Additional provision third. Reference to the electronic venues or websites in which the full annual accounts and audit accounts are published.

Accompanying summary financial information and audit reports of accounts that publish in the "Official State Gazette" the subjects covered by this Resolution and its provisions additional first and second, the reference shall be included in the relevant electronic venues or websites where the full annual accounts and their corresponding audit report are published.

Single end disposition. Entry into force.

This Resolution shall enter into force on the day following that of its publication in the "Official Gazette of the State", and shall apply for the annual accounts for the financial year 2012 and following.

Madrid, June 3, 2013.-The Comptroller General of the State Administration, José Carlos Mayor Hernández.

ANNEX I

Consolidated memory summary to be published by non-financial entities in the business state public sector

At least one report will be reported:

1. Companies in the group

1.1 Dominant society.

Identification of the dominant company with indication of:

• Name and address of the dominant company.

• Activities performed.

• Economic exercise and closing date of the last annual accounts.

1.2 Dependent Societies.

(a) Identification of the dependent companies included in the consolidation with mention of:

• Name and address.

• Amount of the nominal share and percentage of your capital and the voting rights held by the companies of the group, specifying the holding company.

• Subposition of Article 2 of the Rules of Form of Consolidated Annual Accounts approved by Royal Decree 1159/2010 of 17 September 2010 NOFCAC, which determines its rating as a dependent company, identifying the binding that affects you to configure it within the group. In particular, the nature of the relationship between the parent company and the subsidiary shall be explained, where the former does not, directly or indirectly, hold more than half of the voting rights of the latter. In particular, the companies referred to in Article 2 (2) of the Royal Decree shall be identified with an explanation of the link between them and the dominant company.

• When companies in the group hold potential voting rights, the necessary information must be provided to enable the effect of these rights on the control of the dependent to be clearly understood.

• Activities performed.

• Economic exercise and closing date of the last annual accounts and, where appropriate, of the intermediate accounts drawn up for the consolidation and the reasons for the closing date or the economic year of the company dependent are different from those of the dominant one.

• Nature and extent of any significant restrictions on the ability of the dependent company to transmit funds to the parent in cash dividends or to repay loans.

• Identification of dependent companies classified as held for sale in accordance with the provisions of Article 14 of the NOFCAC.

(b) Identification of dependent companies that are excluded from the consolidation perimeter, because they do not have a significant interest in the fair image to be expressed by the consolidated annual accounts with mention of:

• Name and address.

• Amount of the share and percentage of your capital and voting rights held by the companies of the group, specifying the holding company.

• Suppose that determines your rating as a dependent society, identifying the link that affects you to configure it within the group. In particular, the nature of the relationship between the parent company and the subsidiary shall be explained, where the former does not, directly or indirectly, hold more than half of the voting rights of the latter. In particular, the companies referred to in Article 2 (2) of the NOFCAC shall be identified, with an explanation of the link between them and the dominant company.

• Activities that you perform.

• Reason for exclusion and justification.

• Net worth of the last known financial year, pointing out amounts corresponding to capital, reserves and results.

(c) Finally, the companies in which the parent directly or indirectly owns more than half of the voting rights without having control of the voting rights, as well as the reasons why the voting rights are not exercised, will be identified. control.

2. Associated and multi-group companies

Identification of associated and multi-group societies with mention of:

• Name and address.

• Amount of the share and percentage of your capital and voting rights held by the companies of the group, specifying the holding company.

• When companies in the group hold potential voting rights, the necessary information must be provided to enable them to understand clearly the effect of these rights on significant influence or control. a set that is exercised over the associated or multi-group society.

• Supposed to determine your qualification as an associated or multigroup society.

• Activities performed.

Identification of the associated and multi-group companies excluded from the consolidation perimeter because they do not have a significant interest in the fair image to be expressed by the consolidated annual accounts, indicating the same information referred to in footnote 1 above for the case of exclusion of dependent companies.

2.1 Multigroup societies.

Reports about:

• The method of consolidation applied, and the justification for its use.

• The date of the closing of the year of the annual accounts of a multigroup, if they relate to a date or an exercise that differs from those applied in the consolidation, and the reasons for using that date or that year different.

• Nature and extent of any significant restrictions on the ability of the dependent company to transmit funds to the parent in cash dividends or to repay loans.

• The multi-group companies classified as held for sale shall be reported in accordance with the provisions of Article 14 of the NOFCAC.

2.2 Associated Societies.

Reports about:

• The reasons why the presumption that there is no significant influence on whether the investment company owns, directly or indirectly, less than 20 percent of the actual and potential voting rights in the (a) where the investment company has reached the conclusion that it exercises such influence.

• The reasons why the presumption that there is significant influence is obvious if the investment company has, directly or indirectly through other dependents, 20 percent or more of the real voting power or potential in the investee, where the investment company has concluded that it does not exercise such influence.

• The date of the closing of the year of the annual accounts of an associate, if they relate to a date or an exercise that differs from those applied in the consolidation, and the reasons for using that date or that year different.

• Nature and extent of any significant restrictions on the ability of the dependent company to transmit funds to the parent in cash dividends or to repay loans.

• The associated companies classified as held for sale shall be reported in accordance with the provisions of Article 14 of the NOFCAC.

3. Basis for the presentation of consolidated annual accounts

1. True image.

(a) An explicit statement must be made that the consolidated annual accounts reflect the true image of the assets, the financial situation and the results of the group, as well as the veracity of the flows incorporated into the cash flow status.

(b) Exceptional reasons why, in order to show the true image, no legal provisions have been applied in accounting matters, with an indication of the non-applied legal provision, and qualitative and quantitative influence for each the financial year for which information is presented, such as the assets, the financial situation and the results of the group.

c) Complementary information, indicating its location in memory, that it is necessary to include when the application of the legal provisions is not sufficient to show the true image.

2. Non-mandatory accounting principles applied.

3. Critical aspects of the assessment and estimation of uncertainty.

(a) Without prejudice to the above in each specific note, this section will report on the key assumptions about the future as well as other relevant data on the estimate of the uncertainty at the closing date of the exercise, provided that they are associated with an important risk that may lead to significant changes in the value of assets or liabilities in the following financial year. For such assets and liabilities, information on their nature and book value shall be included on the closing date.

(b) The nature and amount of any change in an accounting estimate that is significant and which affects the current financial year or which is expected to affect future financial years shall be indicated. When it is impractical to estimate the effect in future exercises, this fact will be revealed.

(c) When management is aware of the existence of significant uncertainties, relating to events or conditions that may provide significant doubt as to the possibility that some of the companies included in the Consolidation continues to operate normally, it will be revealed in this section. In the event that the annual accounts of any of the companies included in the consolidation are not drawn up under the operating company principle, that fact will be the subject of explicit disclosure, together with alternative scenarios on the which have been drawn up, as well as the reasons why such a company cannot be regarded as a functioning undertaking.

4. Comparison of the information.

Without prejudice to the following sections regarding changes in accounting criteria and error correction, the following information will be incorporated in this section:

(a) Exceptional reasons justifying the modification of the balance sheet structure, profit and loss account, status of changes in equity and the statement of consolidated cash flows of the financial year previous.

b) Explanation of the causes that prevent the comparison of the consolidated annual accounts of the financial year with those of the previous year.

(c) Explanation of the adjustment of the amounts of the preceding financial year to facilitate the comparison and, if not, the exceptional reasons which have rendered the reexpression of the comparative figures impracticable.

(d) In the financial year in which a change is made on the perimeter of the consolidation or on the consolidated set, the name and address of the companies that have produced such a change shall be reported. changes and overall indicating the effect that such variation has had on the equity, financial situation and results of the consolidated group in the current year with respect to the preceding year.

5. Pool of items.

The breakdown of items that have been the subject of the balance sheet, in the profit and loss account, in the statement of changes in net worth or in the statement of consolidated cash flows shall be reported.

It will not be necessary to present the above information if this disaggregation is contained in other sections of the memory.

6. Items collected in multiple items.

Identification of the assets, with their amount, that are recorded in two or more items of the consolidated balance sheet, with an indication of these and of the amount included in each of them.

7. Changes in accounting criteria.

Detailed explanation of adjustments for changes in accounting criteria made in the financial year. In particular, information should be provided on:

a) Nature and description of the change produced and the reasons why the change allows for more reliable and relevant information.

(b) Amount of the correction for each of the items corresponding to the documents in the consolidated annual accounts, affected in each of the financial years presented for comparative purposes.

(c) If the retroactive application is impracticable, the circumstances that explain it and from when the change in the accounting criterion has been applied shall be reported.

When the change of criteria is due to the application of a new standard, it will be indicated and the provisions of the new standard will be indicated, informing of its effect on future exercises.

It will not be necessary to include comparative information in this section.

8. Error correction.

Detailed explanation of the error correction adjustments made in the exercise. In particular, information should be provided on:

a) Nature of the error and the exercise or exercises in which it occurred.

(b) Amount of the correction for each of the items corresponding to the documents in the consolidated annual accounts concerned in each of the financial years presented for comparative purposes.

c) If the retroactive application is impracticable, the circumstances that explain it and from when the error has been corrected will be reported.

It will not be necessary to include comparative information in this section.

9. Operations between consolidation perimeter societies.

Significant transactions between companies in the consolidation perimeter will be reported, when the social exercise of one of them ends on a date that does not differ in more than three months from the date of closure of consolidated accounts.

In accordance with the provisions of Article 16 (2) of the NOFCAC, these operations, for the sole purpose of consolidation, shall have led to an adjustment in the annual accounts of the aforementioned companies.

4. Registration and valuation rules

The accounting criteria applied for the following items shall be indicated:

1. Homogenisation of items in the individual accounts of the companies included in the consolidation perimeter; indicating the criteria applied for such homogenisation.

2. Consolidation and negative difference trading fund; indicating the criteria applied in the elimination of investment-net worth and in the calculation of the deterioration of the consolidation trade fund. In particular, the criteria used to recognise and assess the assets and liabilities of the dependent companies included in the consolidation shall be reported.

3. Transactions between companies included in the consolidation perimeter; indicating the criteria applied in the elimination of intra-group items and results from internal transactions.

4. Intangible fixed assets; indicating the criteria used for capitalisation or activation, amortisation and valuation corrections for impairment.

Justification of the circumstances that have led to the indefinite qualification of the useful life of an intangible fixed asset.

In particular, the criterion used in the calculation and deterioration of the trade fund accounted for in the individual annual accounts of the companies included in the consolidation, as well as in the other intangible immobilized with indefinite shelf life.

5. Tangible fixed assets, indicating the criteria for depreciation, valuation corrections for deterioration and reversal of depreciation, capitalisation of financial expenses, enlargement costs, modernisation and improvements, decommissioning or withdrawal costs, as well as the costs of rehabilitation of the place where an asset is settled and the criteria for determining the cost of the work carried out by the group for the fixed assets.

6. The criterion for qualifying land and buildings as real estate investments shall be indicated, specifying for these criteria the criteria set out in the previous paragraph.

7. Leases; indicating the criteria for accounting for leasing contracts and other similar operations.

8. Permutas; indicating the criterion followed and the justification for their application, in particular the circumstances which led to the qualification of a commercial swap.

9. Financial instruments; shall be indicated:

(a) Criteria used for the rating and valuation of the different categories of financial assets and financial liabilities, as well as for the recognition of fair value changes; in particular, the reasons why securities issued by consolidation perimeter companies which, in accordance with the legal instrument used, should in principle have been classified as equity instruments, have been accounted for as financial liabilities.

(b) The nature of the financial assets and financial liabilities initially designated as at fair value with changes in the profit and loss account, as well as the criteria applied in that designation and an explanation of how the requirements for the registration and valuation of financial instruments have been met.

(c) The criteria applied to determine the existence of objective evidence of deterioration, as well as the recording of the correction of value and its reversal and the definitive discharge of impaired financial assets. In particular, the criteria used to calculate the valuation corrections relating to commercial debtors and other receivables shall be highlighted. The accounting criteria applied to financial assets whose conditions have been renegotiated and which otherwise would be due or impaired shall also be indicated.

d) Criteria used for the registration of financial assets and financial liabilities.

(e) Hybrid financial instruments; indicating the criteria that have been followed to assess separately the instruments that integrate them, on the basis of their economic characteristics and risks or, where appropriate, the the impossibility of such separation. In addition, the valuation criteria followed with particular reference to impairment valuation corrections shall be detailed.

(f) Compound financial instruments; the valuation criterion followed for quantifying the component of these instruments to be classified as financial liability shall be indicated.

g) Financial collateral contracts; indicating the criterion followed in both the initial and subsequent valuation.

(h) The criteria used in determining the revenue or expenditure arising from the various categories of financial instruments: interest, premiums or discounts, dividends, etc.

i) Equity instruments of the dominant company held by the group; indicating the criteria for valuation and registration of employees.

10. Accounting hedges; indicating the valuation criteria applied in the consolidated annual accounts in the hedging transactions, distinguishing between fair value hedges, cash flows and net investments in business in the the assessment criteria applied for the recording of the accounting effects of their interruption and the reasons for which they originated.

11. Stocks; indicating the valuation criteria and, in particular, specifying those followed by valuation corrections for deterioration and capitalization of financial expenses.

12. Foreign currency transactions; indicating:

a) Criteria for valuation of foreign currency transactions and criteria for imputation of exchange differences.

b) When there has been a change in the functional currency, it will become manifest, as well as the reason for such a change.

(c) For the items contained in the consolidated annual accounts which at present or at their origin have been expressed in foreign currency, the procedure used to calculate the exchange rate shall be indicated in euro.

d) Criterion used for the conversion of annual accounts of companies included in the perimeter of consolidation with functional currency other than that of presentation.

13. Profit taxes; indicating the criteria used for the registration and valuation of deferred tax assets and liabilities.

14. Revenue and expenditure; indicating the general criteria applied. In particular, in relation to the performance of the services carried out, the criteria used for the determination of the income shall be indicated; in particular, the methods used to determine the percentage of performance in the provision of services and shall be reported if its application has been impracticable.

15. Provisions and contingencies; indicating the criterion of valuation, as well as, where appropriate, the treatment of compensation to be received from a third party at the time of the settlement of the obligation. In particular, a general description of the method of estimation and calculation of each of the risks shall be given in relation to the provisions.

16. Heritage elements of an environmental nature, indicating:

(a) Criteria for valuation, as well as for imputation to the results of the amounts intended for environmental purposes. In particular, the criterion followed to consider these amounts as expenditure of Royal Decree 1159/2010 of 17 September 2010 or as the largest value of the corresponding asset shall be indicated.

(b) Description of the estimation method and calculation of provisions arising from the environmental impact.

17. Criteria used for the recording and valuation of staff expenditure, in particular, for pension commitments.

18. Stock-based payments; indicating the criteria used for accounting.

19. Grants, donations and legacies; indicating the criteria used for their classification and, where applicable, their imputation to results.

20. Business combinations; indicating the registration and valuation criteria used in the individual accounts of the group's companies.

21. Joint ventures; indicating the criteria followed for integrating the balances corresponding to joint ventures into the consolidated annual accounts, in which the group's companies participate.

In particular, the criteria applied to recognise and assess the assets and liabilities of the multi-group companies included in the consolidation shall be reported.

22. Associated companies; indicating the criterion followed to account for the consolidated annual accounts of the group's investments in these companies.

23. Criteria used in related party transactions.

The criteria applied in these transactions shall be reported in the individual accounts of the companies included in the consolidation perimeter, without prejudice to the information on the elimination of the results produced in these operations must be provided in point 3 of this section.

24. Non-current assets held for sale; the following criteria shall be indicated for qualifying and valuing such assets or groups of items as held for sale, including the associated liabilities.

25. Interrupted operations; criteria for identifying and qualifying an activity as interrupted, as well as the revenue and expenses that originate.

5. Business combinations

5.1 Consolidation of Dependent Societies.

The acquisition by the dominant company (acquiring company) of the control of a dependent company (acquired company) constitutes a combination of businesses in which the dominant company has acquired control of the company. all the assets of the dependent company.

1. For each of these combinations taking place during the exercise, the following information shall be provided:

a) The name and description of the acquired company or companies.

b) The date of acquisition.

c) The legal form used to perform the combination.

d) The main reasons for the combination of the business, as well as a qualitative description of the factors leading to the recognition of the goodwill, such as expected synergies from the business combination of the acquiree and the acquirer, intangible assets that do not meet the conditions for recognition separately or other factors.

e) The fair value at the date of acquisition of the total consideration transferred and of each main consideration class, such as:

-Cash.

-Other tangible or intangible assets, including a business or a subsidiary of the acquirer.

-Amount of the contingent consideration; the description of the agreement shall be provided in point (g).

-Debt instruments.

-Participation in the assets of the acquirer, including the number of equity instruments issued or issued and the method to estimate its fair value.

In addition, the prior holdings in the acquired company's assets that have not resulted in the control of the same, in the staged business combinations, will be reported.

(f) The amounts recognized, at the date of acquisition, for each class of assets and liabilities of the acquired company, indicating those that according to the standard of record and valuation 19th of the General Accounting Plan do not they collect for their fair value.

g) For any contingent consideration that depends on future events as well as for assets received as compensation against any contingency or uncertainty: amount recognized at the date of acquisition, description of the agreement and, an estimate of the range of possible results as well as of the maximum potential amount of future payments that the acquirer may be required to make in accordance with the terms of the acquisition, or if they cannot be This circumstance will be communicated as well as the reasons why they cannot be estimated.

This same information will be provided on contingent assets or assets for compensation; for example, where a clause is included in the agreement under which the acquirer must be compensated for the liability that could be derived from litigation pending the acquisition.

h) Fair value of receivables acquired, gross contractual amounts receivable, and best estimate at the date of acquisition of contractual cash flows that is not expected to be charged. The information to be disclosed shall be provided by the main class of account receivable, such as loans, direct financial leases and any other class of receivables.

(i) With regard to the goodwill which may have arisen in the business combinations, the information requested in footnote 6 shall be supplied. In addition, the total amount of goodwill expected to be fiscally deductible should be reported.

j) For those "pre-existing relationship" cases where the acquiree and acquirer maintained a relationship that existed before a business combination was considered: a description of the transaction, the recognized amount of each transaction, and if the transaction is the effective cancellation of a pre-existing relationship, the method used to determine the amount of such cancellation.

2. In a business combination performed in stages:

(a) Reasonable value at the date of acquisition of the shares in the assets held by the acquirer immediately prior to the date of acquisition.

(b) The amount of any recognised gain or loss arising from revaluing at fair value the equity interest of the acquiree held by the acquirer prior to the business combination and the item of the profit and loss account in which the gain or loss is recognized.

3. The information required in paragraph 1 shall be disclosed in an aggregated form for business combinations, carried out during the financial year, which are individually lacking in relative importance.

Additionally, the acquiring company will provide the information contained in the above paragraph for each of the business combinations made or in progress between the closing date of the consolidated annual accounts and the of its formulation, unless this is not possible. In this case, the reasons why this information cannot be provided will be noted.

4. It shall be disclosed separately for each business combination carried out during the financial year, or in addition for those which are not individually relevant, the share of the revenue and the result attributable to the combination from the date of acquisition. The revenue and the result of the financial year which the group resulting from the business combination would have obtained shall also be indicated under the assumption that all business combinations carried out in the financial year have been made on the date start of the same.

In the event that this information could not be supplied, this fact will be pointed out and will be motivated.

5. The following information shall be given in relation to the business combinations carried out during the financial year or in the previous financial years:

(a) If the amount recognised in accounts has been provisionally determined, the reasons why the initial recognition is not complete shall be indicated, the assets acquired and commitments assumed for which the period of assessment is open and the amount and nature of any adjustment in the valuation carried out during the financial year.

b) A description of the post-acquisition facts or circumstances that have resulted in recognition during the deferred tax exercise acquired as part of the business combination.

(c) The amount and a justification for any gain or loss recognized in the financial year that is related to the acquired assets or liabilities assumed and is of such amount, nature or effect that this information is relevant to understand the consolidated annual accounts.

(d) Until the entity copper, enajene or otherwise loses the right to an asset for a contingent consideration, or until the group liques a liability arising from a contingent consideration or is cancelled liabilities or expires, all changes in the recognised amounts shall be reported including any differences arising in the settlement, all changes in the range of possible outcomes without discounting and their reasons for change, and valuation techniques to assess the contingent consideration.

5.2 Business combinations recognized in the individual accounts of the companies to which the method of global or proportional integration applies.

The same terms of the previous paragraph shall be reported on the business combinations to which the acquisition method is applied in the Standard of Registration and the 19th of the General Accounting Plan. recognised in the individual accounts of companies consolidated by the method of global or proportional integration.

6. Goodwill

6.1 Consolidation Trading Fund.

The acquisition by the dominant company (acquiring company) of the control of a dependent company (acquired company) constitutes a combination of businesses in which the dominant company has acquired control of the company. all the assets of the dependent company.

This section will include the following information:

1. For each business combination that has been carried out in the financial year, the trade fund figure shall be expressed, broken down to the different business combinations.

Dealing with business combinations that individually lack relative importance, the above information will be displayed in aggregate.

This information must also be expressed for business combinations between the closing date of the consolidated annual accounts and the date of their formulation, unless it is not possible, in this case, the reasons why this information cannot be provided.

2. The company shall make a reconciliation between the carrying amount of the goodwill at the beginning and end of the year, showing separately:

(a) The gross amount of the same and the cumulative impairment value adjustments at the beginning of the financial year.

(b) The additional goodwill recognised during the period, differentiating the trading fund included in a qualifying group of items that has been classified as held for sale, in accordance with the rules of registration and valuation. It shall also be reported on the low trading fund during the period without previously being included in any qualifying group of items classified as held for sale.

(c) Adjustments arising from the subsequent recognition of deferred tax assets made during the interim valuation period.

d) Impairment Valuation corrections recognised during the financial year.

e) Any other changes to the amount in books during the exercise, and

(f) The gross amount of the goodwill and the cumulative impairment value adjustments at the end of the financial year.

3. Description of the factors which have contributed to the registration of the goodwill as well as, shall be justified and shall indicate the amount of the goodwill and other intangible fixed life intangible assets attributed to each unit generating unit cash.

4. For each significant impairment loss of the goodwill, the following shall be reported:

(a) Description of the cash-generating unit that includes the goodwill as well as other intangible or intangible assets and the way the pool is made to identify a cash-generating unit when is different from the one performed in previous exercises.

b) Amount, events, and circumstances that have led to the recognition of a impairment valuation correction.

c) Criteria used to determine the fair value minus the selling costs, if any, and

d) If the method used is the value in use, the type or types of update used in the current and previous estimates, a description of the key assumptions on which the data are based, shall be reported. projections of cash flows and how their securities have been determined, the period covering the projection of cash flows and the growth rate of cash flows from the fifth year onwards.

5. With respect to aggregate impairment losses for which the information referred to in the preceding number is not disclosed, the main events and circumstances that have led to the recognition of such impairment valuation corrections.

6. The assumptions used for the determination of the recoverable amount of assets or cash-generating units.

6.2 Trade Fund recognized in the individual accounts of the companies to which the method of global or proportional integration applies.

The same terms of the previous paragraph will be reported, on the goodwill that has arisen when applying the acquisition method regulated in the standard of registration and valuation 19th of the General Accounting Plan, in the business combinations recognised in the individual accounts of the consolidated companies by the method of global or proportional integration.

7. Negative differences

7.1 Negative consolidation differences.

1. Analysis of the composition of the items in the consolidated profit and loss account "Negative difference in business combinations" and "Negative difference in consolidation of companies placed in equivalence". The reasons why the transaction has resulted in the balance of these items should be described when they are significant.

2. Breakdown of the final balance according to the shareholdings that have generated the negative consolidation differences.

3. Also, where appropriate, the intangible assets and quotas that have not been registered for not being able to calculate their valuation by reference to an active market shall be described.

7.2 Negative differences recognized in the individual accounts of the societies to which the global integration method applies.

The same terms in the previous paragraph will be reported, on the negative differences that have arisen in applying the acquisition method regulated in the standard of registration and valuation 19th of the General Accounting Plan, in the business combinations recognised in the individual accounts of the consolidated companies by the method of global or proportional integration.

8. External partners

The following information will be displayed:

1. Breakdown of this subpool indicating for each dependent society:

a) The movement in the exercise and the causes that have originated it and

(b) The composition of the balance at the end of the financial year, differentiating between its equity participation, adjustments for changes in value and grants, donations and legacies.

2. If the acquisition of the dependent business condition has taken place during the financial year, the amount of the external partners in the acquisition recognised at the date of acquisition shall be reported.

3. Participation of external partners in the trade fund accounted for in the consolidated annual accounts in accordance with the provisions of Article 29.1 (d) of the NOFCAC.

4. Description of the significant agreements formalised by the companies belonging to the group with the external partners on the equity instruments of a dependent company, such as future purchase commitments or the issuance of options for sale, forcing you to deliver cash or other assets if such agreements are executed.

9. Changes in the percentage of participation in the group's societies

1. The effects on equity attributable to the owners of the parent of those changes in the share of the parent in the ownership of a subsidiary that do not result in loss of control shall be reported. In particular, for each significant operation the following information will be displayed:

a) Variation in reservations.

b) Variation in the headings of the A-2 sub-pool) Adjustments for changes of value, and subgrouping A-3) Grants, donations and bequests received.

c) Where appropriate, goodwill attributed to minority partners.

2. If the control of a subsidiary is lost, the benefit or loss, if any, recognised under Article 31 of the NOFCAC, shall be reported. In particular, the following information will be displayed:

a) The portion of the profit or loss attributable to the recognition of the retained investment in which it was previously a dependent entity for its fair value on the date on which it loses control; and

b) The portion of the reclassified profit or loss to the consolidated profit and loss account.

(c) The benefit or loss remaining after the adjustments described in Article 31 of the NOFCAC are practised.

10. Joint businesses

1. Significant interests in joint ventures shall be indicated and described in detail in the form that the business takes, distinguishing between:

(a) Jointly Controlled Holdings.

b) Jointly Controlled Assets.

c) Multigroup societies to which the proportional integration method applies.

2. The aggregate amount of the following contingencies shall be reported separately, unless the probability of loss is remote:

(a) Any contingency in which as a participant has been incurred in relation to investments in joint ventures and their share in each of the contingencies that have been incurred jointly with other participants.

b) Your share of the contingencies of the joint businesses in which you can be responsible, and

c) Those contingencies that arise because as a participant you can be responsible for the liabilities of other members of a joint business.

3. The total amount of the following commitments shall be reported separately:

(a) Any commitment to capital investment, which it has assumed in relation to its share in joint ventures, as well as its share of capital investment commitments undertaken jointly with other unit-holders, and

b) Your participation in the capital investment commitments assumed by the joint ventures themselves.

4. This shall be broken down for each significant balance sheet item, profit and loss account, cash flow statement and consolidated net worth change statement, amounts corresponding to the joint business. This information will be included in aggregate for the total of joint businesses in which the group participates.

11. Holdings in companies placed in equivalence

The following information will be displayed:

1. Breakdown of this item by companies placed in equivalence, indicating the movement of the exercise and the causes that have originated it.

2. The fair value of investments in these companies, for which there are price quotations.

3. Summary financial information of the companies, where the cumulative amount of the assets, liabilities, ordinary income and profit or loss of the financial year shall be included.

4. The portion of losses of the unrecognized associate, distinguishing those that are from the year and the accumulated ones, in the event that the investment company has ceased to recognize the part that corresponds to the loss of the company.

5. Result of the exercise of the companies placed in equivalence corresponding to the investment company. You will need to be informed of the accounts in the profit and loss account and of which it looks directly in the net worth. In particular, it shall be informed of the investor's share of any interrupted activity of such entities.

6. The share of the contingent liabilities of an associate in which the group's companies have incurred together with other investors and those contingent liabilities that have arisen because the investment company is responsible shall be reported. subsidiary in relation to a part or all of the liabilities of an associate.

12. Tangible fixed assets

Analysis of movement during the exercise of each consolidated balance sheet item included in this item and its corresponding accumulated write-downs and cumulative impairment valuation corrections; next:

a) Initial save.

b) Entries or envelopes, specifying acquisitions made by business combinations and non-cash contributions, as well as those due to extensions or improvements.

c) Reversion of Impairment Valuation corrections.

d) Increases/decreases by transfers or transfers of other items; in particular to non-current assets held for sale or discontinued operations.

e) Outputs, casualties, or reductions.

(f) Impairment Valuation (s), differentiating those recognised in the financial year, from cumulative ones.

g) Amortiations, differentiating those recognized in the exercise, from the accumulated ones.

h) End save.

13. Real estate investments

Analysis of movement during the exercise of each consolidated balance sheet item included in this item and its corresponding accumulated write-downs and cumulative impairment valuation corrections; next:

a) Initial save.

b) Entries or envelopes, specifying acquisitions made by business combinations and non-cash contributions, as well as those due to extensions or improvements.

c) Reversion of Impairment Valuation corrections.

d) Increases/decreases by transfers or transfers of other items; in particular to non-current assets held for sale or discontinued operations.

e) Outputs, casualties, or reductions.

(f) Impairment Valuation (s), differentiating those recognised in the financial year, from cumulative ones.

g) Amortiations, differentiating those recognized in the exercise, from the accumulated ones.

h) End save.

14. Intangible fixed assets

Analysis of movement during the exercise of each consolidated balance sheet item included in this item and its corresponding accumulated write-downs and cumulative impairment valuation corrections; next:

a) Initial save.

b) Entries or envelopes, specifying acquisitions made by business combinations and non-cash contributions, as well as those due to extensions or improvements.

c) Reversion of Impairment Valuation corrections.

d) Increases/decreases by transfers or transfers of other items; in particular to non-current assets held for sale or discontinued operations.

e) Outputs, casualties, or reductions.

(f) Impairment Valuation (s), differentiating those recognised in the financial year, from cumulative ones.

g) Amortiations, differentiating those recognized in the exercise, from the accumulated ones.

h) End save.

15. Financial instruments

1. Information related to the consolidated balance sheet.

The book value of each of the categories of financial assets and financial liabilities identified in the General Accounting Plan's standard of record and valuation, according to the following structure, shall be disclosed:

a.1) Financial assets.

Class-Categories

Long-term Financial Instruments						Short-Term Financial Instruments						Total
Instruments		Representative values debt		Derivatives Other		Instruments heritage		Debt representative values		Derivatives Other
Ej x	Ej x-1	Ej x	Ej x-1	Ej x	Ej x-1	Ej x	Ej x-1	Ej x	Ej x-1	Ej x	Ej x-1	Ej x	Ej x-1
Assets at fair value with changes in profit and loss: -Maintained to negotiate. -Other.
held to maturity.
Loans and Items to Charge.
Assets available for sale: -Valid value-valued. -Cost-valued.
TOTAL

a.2) Financial liabilities.

Class-Categories

Long-term Financial Instruments						Short-Term Financial Instruments						Total
Debts with Entities		Obligations and other tradable values		Derivatives Other		Debts with credit entities		Obligations and other negotiable values		Derivatives Other
Ej x	Ej x-1	Ej x	Ej x-1	Ej x	Ej x-1	Ej x	Ej x-1	Ej x	Ej x-1	Ej x	Ej x-1	Ej x	Ej x-1
Debts and Items to Pay.
Passive to fair value with profit and loss changes: -Maintained to negotiate. -Other.
TOTAL

2. Investments in equity instruments.

The name and address of companies, not included in Notes 1 and 2, in which the companies that form the consolidated set, have a percentage of not less than 5 per 100 of their capital. Participation in the capital and percentage of voting rights, as well as the amount of the net worth and the result of the last financial year of the company whose accounts would have been approved shall be indicated. Such information may be omitted where they are only of negligible interest in respect of the true image to be expressed by the consolidated accounts.

Notifications made, in compliance with the provisions of Article 155 of the recast of the Capital Companies Act, to the participating companies, directly or indirectly, by more than 10 per 100.

3. Own funds.

Analysis of the movement of the exercise in the items included in this grouping, indicating the origins of the increases and the causes of the decreases.

Breakdown of the heading "Reservations", with the following level of detail:

Reservations:

• Reserves of the dominant company differentiating the distributable, non-distributable reserves and the results of previous years.

• Reserves in consolidated companies.

• Reserves in societies placed in equivalence.

4. Other adjustments for value changes.

Breakdown of heading II. "Other adjustments for value changes" with the following level of detail:

Nature of adjustment:

• Financial assets available for sale.

• Coverage operations.

• Other adjustments for value changes.

Adjustment source:

• Dominant society.

• Consolidated Societies.

• Societies placed in equivalence.

16. Tax situation

Identification of group companies that are taxed in the tax consolidation regime.

17. Provisions

Analysis of the movement of each consolidated balance sheet item during the financial year, indicating:

• Initial save.

• Dotations.

• Applications.

• Other adjustments made (business combinations, etc.).

• End Balance

It will not be necessary to include comparative information in this section.

18. Grants, donations and legacies

Reports on:

1. The amount and characteristics of the grants, donations and legacies received that appear on the consolidated balance sheet, as well as those attributed to the consolidated profit and loss account.

2. Analysis of the movement of the content of the corresponding subpool of the consolidated balance sheet, indicating the initial and final balance as well as the increases and decreases. In particular, the amounts received and, where appropriate, returned shall be reported.

3. Information on the origin of the grants, donations and legacies, indicating, for the first, the public Ente that grants them, specifying whether the grant of the same is the local, regional, state or international administration.

4. Information on whether or not the conditions associated with grants, donations and legacies are met.

5. Breakdown of grants, donations and legacies with origin in the dominant company, the consolidated companies and the companies placed in equivalence.

19. Non-current assets held for sale

1. Relationship of dependent, multi-group and associated companies that have been recognised during the financial year as non-current assets held for sale.

2. Relationship of dependent, multi-group and associated companies that cease to meet in the exercise the criterion to classify them as non-current assets held for sale, pointing out the impact that the reclassification originates from the account losses and gains and net worth of the group.

3. If the qualifying group of items is a dependent company that meets the requirements to be classified as held for sale at the time of acquisition, the company required to consolidate will be exempt from displaying the information on the main classes of assets and liabilities that are included in the group of items.

20. Post-closure events

The:

1. Subsequent events which show circumstances that already existed at the end of the financial year which did not, in accordance with their nature, include the inclusion of an adjustment in the figures contained in the exercise.

In the consolidated annual accounts, but show the need for the information contained in the memory to be modified in accordance with that subsequent fact.

2. Subsequent events showing conditions which did not exist at the close of the financial year and which are of such importance that, if no information is provided, could affect the assessment capacity of the users of the annual accounts. In particular, the subsequent event shall be described and the estimation of its effects shall be included. Where it is not possible to estimate the effects of the said fact, an express expression shall be included on this point, together with the reasons and conditions which cause such an impossibility of estimation.

21. Related party operations

1. Information on related party transactions, the effects of which have not been eliminated in the consolidation process, shall be reported in accordance with Article 83 of the NOFCAC shall be provided separately for each of the following categories:

a) Dominant entity.

(b) Group companies defined in the terms of the standard for the production of the annual accounts 13th Group, multi-group and associated accounts of the General Accounting Plan.

(c) Joint business in which the entity is one of the unit-holders.

d) Associated Societies.

e) Companies with joint control or significant influence over the group.

(f) Key personnel of the management of the companies of the parent group or entity.

g) Other related parts.

2. Sufficient information shall be provided to understand the related party operations that it has carried out and the effects thereof on the financial statements, including, inter alia, the following:

a) Identification of persons or companies with whom the related transactions have been performed, expressing the nature of the relationship with each party involved.

b) Detail of the transaction and its quantification, expressing the price policy followed, by putting it in relation to which the company uses with respect to similar transactions made with parties that do not have the consideration of linked. Where there are no analogous operations carried out with parties that do not have the consideration of related links, the criteria or methods followed to determine the quantification of the operation.

(c) Profit or loss that the transaction has originated in the group and description of the functions and risks assumed by each related party with respect to the transaction.

(d) Amount of outstanding balances, both assets and liabilities, their terms and conditions, the nature of the consideration established for settlement, grouping assets and liabilities by type of financial instrument (with the structure that appears on the consolidated balance sheet) and guarantees granted or received.

e) Value adjustments for doubtful claims related to previous outstanding balances.

(f) Expenditure recognised in the financial year as a result of bad debts or of doubtful recovery of related parties.

3. In any case, the following types of related party transactions should be reported, provided that their effects have not been removed during the consolidation process:

a) Sales and purchases of current and non-current assets.

b) Delivery and receipt of services.

c) Financial lease contracts.

d) Research and development transfers.

e) License agreements.

(f) Financing agreements, including loans and capital injections, whether in cash or in kind.

In the acquisition and disposal of equity instruments, the number, nominal value, average price and result thereof shall be specified, specifying the final intended destination in the case of acquisition.

g) Interest paid and charged; as well as those accrued but not paid or charged.

h) Dividends and other distributed benefits.

i) Guarantees and endorsements.

j) Remuneration and allowances.

k) Benefits to be compensated by own financial instruments.

l) Commitments on firm basis for purchase or sale options or other instruments that may involve a transmission of resources or obligations between the group and the related party.

m) Cost-sharing agreement in relation to the production of goods and services to be used by various related parties.

n) Treasury management agreements, and

or) Debt forgiveness and prescription agreements.

4. The above information may be presented in an aggregated form when referring to items of a similar nature. In any event, information of an individualised nature shall be provided on related transactions that are significant for their size or relevant to a proper understanding of the consolidated annual accounts.

5. It is not necessary to inform in the case of transactions which, belonging to ordinary traffic, are carried out under normal market conditions, are of little quantitative importance and are of relevance to express the true image of the heritage, the financial situation and the results of the group.

22. Other information

Information about:

1. The average number of persons employed in the course of the year by the companies included in the overall integration in the consolidation, distributed by category. The gender distribution at the end of the year of the staff of the companies included in the overall integration in the consolidation, broken down into a sufficient number of categories and levels, including those of senior managers and the advisers. The average number of persons employed in the course of the financial year by the multi-group companies to which the method of proportional integration applies shall also be indicated separately.

2. Average number of persons employed in the course of the year by the companies included in the consolidation, with a disability greater than or equal to 33 per 100 (or local equivalent rating), indicating the categories to which they belong. The average number of persons employed in the course of the financial year by the multi-group companies to which the method of proportional integration applies shall be indicated separately.

3. The nature and purpose of the business of the agreements that do not appear on consolidated balance sheet and on which no information has been incorporated in another note of memory, as well as its possible financial impact, provided that this information is significant aid for the determination of the financial position of the companies included in the consolidation considered as a whole.

ANNEX II

Memory summary to be published by business state public sector insurance entities

At least one report will be reported:

1. Dominant company

1. Name.

2. Domicile and legal form of the entity, as well as the territorial scope of its activities.

3. A description of the insurance classes in which it operates, risks covered and ancillary activities it develops.

2. Dependent, multi-group and associated companies

Indicate for each entity:

1. Name.

2. Domicile and legal form of the entities, as well as the territorial scope of their activities.

3. A description of the insurance classes in which they operate, risks covered and ancillary activities that each entity develops.

4. Percentage of participation, directly or indirectly, in each entity.

5. Consolidation methods used for each entity.

3. Basis for the presentation of consolidated annual accounts

1. True image.

(a) The entity shall make an explicit statement that the consolidated annual accounts reflect the fair view of the assets, the financial situation and the results of the institution, as well as the veracity of the flows incorporated into the cash flow status.

(b) Exceptional reasons why, in order to show the true image, no legal provisions have been applied in accounting matters, with an indication of the non-applied legal provision, and qualitative and quantitative influence for each the financial year for which information is presented, such as the assets, the financial situation and the results of the group.

c) Complementary information, indicating its location in memory, that it is necessary to include when the application of the legal provisions is not sufficient to show the true image.

2. Non-mandatory accounting principles applied.

3. Critical aspects of the assessment and estimation of uncertainty.

(a) Without prejudice to the above in each specific note, this section will report on the key assumptions about the future as well as other relevant data on the estimate of the uncertainty at the closing date of the exercise, provided that they are associated with an important risk that may lead to significant changes in the value of assets or liabilities in the following financial year. For such assets and liabilities, information on their nature and book value shall be included on the closing date.

(b) The nature and amount of any change in an accounting estimate that is significant and which affects the current financial year or which is expected to affect future financial years shall be indicated. When it is impractical to estimate the effect in future exercises, this fact will be revealed.

(c) When management is aware of the existence of significant uncertainties, relating to events or conditions that may provide significant doubt as to the possibility that any of the entities included in the Consolidation continues to operate normally, it will be revealed in this section. Where the annual accounts of the companies included in the consolidation are not drawn up under the principle of a functioning undertaking, this shall be the subject of explicit disclosure, together with the alternative scenarios for which they have been established. (a) it has been drawn up, as well as the reasons why such an entity cannot be regarded as a functioning undertaking.

4. Comparison of the information.

Without prejudice to the following sections regarding changes in accounting criteria and error correction, the following information will be incorporated in this section:

a) Explanation of the causes that prevent the comparison of the consolidated annual accounts of the financial year with those of the previous year.

(b) Explanation of the adjustment of the amounts of the preceding financial year to facilitate the comparison and, if not, the exceptional reasons which have rendered the reexpression of the comparative figures impracticable.

5. Items collected in multiple items.

Identification of the assets, with their amount, that are recorded in two or more items of the consolidated balance sheet, with an indication of these and of the amount included in each of them.

6. Changes in accounting criteria.

Detailed explanation of adjustments for changes in accounting criteria made in the financial year. In particular, information should be provided on:

a) Nature and description of the change produced and the reasons why the change allows for more reliable and relevant information.

(b) Amount of correction for each of the items corresponding to the documents in the consolidated annual accounts, affected in each of the financial years presented for comparative purposes, and

(c) If the retroactive application is impracticable, the circumstances that explain it and from when the change in the accounting criterion has been applied shall be reported.

When the change of criteria is due to the application of a new standard, it will be indicated and the provisions of the new standard will be indicated, informing of its effect on future exercises.

It will not be necessary to include comparative information in this section.

7. Error correction.

Detailed explanation of the error correction adjustments made in the exercise. In particular, information should be provided on:

a) Nature of the error and the exercise or exercises in which it occurred.

(b) Amount of correction for each of the items corresponding to the documents in the consolidated annual accounts concerned in each of the financial years presented for comparative purposes

and

c) If the retroactive application is impracticable, the circumstances that explain it and from when the error has been corrected will be reported.

It will not be necessary to include comparative information in this section.

8. Criteria for imputation of expenses and income.

In the event that the entity operates simultaneously in the life and non-life activities, an explanation of the criteria followed for the affectation of the investments to one or another activity, in order to be imputed to the same expenditure and financial revenue and, in any event, an explanation of the criteria used for the allocation of any revenue and expenditure corresponding to the non-life activity of the various classes.

9. Dependent, multi-group and associated societies.

In the exercises in which a change in the consolidation perimeter occurs, such modifications shall be reported, indicating the entities that have been affected.

10. Significant operations.

Significant operations that would have been performed between entities in the group will be reported.

4. Application of results

The proposal for the implementation of the results will be reported and submitted to the relevant social body for approval.

5. Registration and valuation rules

The accounting criteria applied for the following items shall be indicated:

1. Homogenisation of items in the individual accounts of the companies included in the consolidation perimeter; indicating the criteria applied for such homogenisation.

2. Consolidation and negative difference trading fund; indicating the criteria applied in the elimination of investment-net worth and in the calculation of the deterioration of the consolidation trade fund. In particular, the criteria used to recognise and assess the assets and liabilities of the dependent companies included in the consolidation shall be reported.

3. Transactions between companies included in the consolidation perimeter; indicating the criteria applied in the elimination of intra-group items and results from internal transactions.

4. Intangible fixed assets; indicating the criteria used for capitalisation or activation, amortisation and valuation corrections for impairment.

Justification of the circumstances that have led to the indefinite qualification of the useful life of an intangible fixed asset.

In particular, the valuation criterion used to calculate the recoverable value of the goodwill and the expense of the disposal of the portfolio, as well as the other intangible fixed assets, should be specified in detail. indefinite useful life.

In any event, for the economic rights derived from policy portfolios acquired from a mediator, the estimated depreciation period in accordance with the provisions of the registration and/or the registration rule should be adequately justified. assessment of intangible fixed assets.

5. Tangible fixed assets and real estate investments, indicating depreciation criteria, valuation corrections for deterioration and reversal of depreciation, capitalization of financial expenses, enlargement costs, modernisation and improvements, costs for decommissioning or withdrawal, as well as the costs of rehabilitation of the place where an asset is located and the criteria for determining the cost of the work carried out by the group for the fixed assets.

6. The criterion for qualifying land and buildings as real estate investments shall be indicated, specifying for these criteria the criteria set out in the previous paragraph.

7. Leases; indicating the criteria for accounting for leasing contracts and other similar operations.

8. Permutas; indicating the criterion followed and the justification for their application, in particular the circumstances which led to the qualification of a commercial swap.

9. Advance commissions and other acquisition expenses activated; indicating the criteria used for activation, amortization and, where applicable, sanitation. The criteria for the timing of commissions and other acquisition costs in the non-life classes will also be indicated.

10. Financial instruments; shall be indicated:

(a) Criteria used for the rating and valuation of the different categories of financial assets and financial liabilities, as well as for the recognition of fair value changes; in particular, the reasons why securities issued by consolidation perimeter companies which, in accordance with the legal instrument used, should in principle have been classified as equity instruments, have been accounted for as financial liabilities.

(b) The nature of the financial assets and financial liabilities initially designated as at fair value with changes in the profit and loss account, as well as the criteria applied in that designation and an explanation of how the requirements set out in the standard of registration and valuation relating to financial instruments have been met.

(c) The criteria applied to determine the existence of objective evidence of deterioration, as well as the recording of the correction of value and its reversal and the definitive discharge of impaired financial assets. In particular, the criteria used to calculate the valuation corrections relating to commercial debtors and other receivables shall be highlighted. The accounting criteria applied to financial assets whose conditions have been renegotiated and which otherwise would be due or impaired shall also be indicated.

d) Criteria used for the registration of financial assets and financial liabilities.

(e) Hybrid financial instruments; indicating the criteria that have been followed to assess separately the instruments that integrate them, on the basis of their economic characteristics and risks or, where appropriate, the the impossibility of such separation. In addition, the valuation criteria followed with particular reference to impairment valuation corrections shall be detailed.

(f) Compound financial instruments; the valuation criterion followed for quantifying the component of these instruments to be classified as financial liability shall be indicated.

g) Financial collateral contracts; indicating the criterion followed in both the initial and subsequent valuation.

(h) The criteria used in determining the income or expenses arising from the various categories of financial instruments: interest, premiums or discounts, dividends, etc.

i) Own equity instruments held by the institution; indicating the criteria for valuation and registration of employees.

11. Accounting coverages; indicating the valuation criteria applied in annual accounts in hedging transactions, distinguishing between fair value hedges, cash flows and net investments in foreign business, as well as the valuation criteria applied for the recording of the accounting effects of their interruption and the reasons for which they originated.

12. Appropriations for insurance and reinsurance operations, distinguishing those for insurers, reinsurers, transferors and co-insurers, as well as mediators and policyholders, with an indication of the criteria applied for the implementation of Value adjustments.

13. Foreign currency transactions; indicating:

a) Criteria for valuation of foreign currency transactions and balances and criteria for imputation of exchange differences.

b) When there has been a change in the functional currency, it will become manifest, as well as the reason for such a change.

(c) For the items contained in the consolidated annual accounts which at present or at their origin have been expressed in foreign currency, the procedure used to calculate the exchange rate shall be indicated in euro.

d) Criterion used for conversion to presentation currency.

14. Profit taxes; indicating the criteria used for the registration and valuation of deferred tax assets and liabilities.

15. Revenue and expenditure, indicating in particular the criteria for the reclassification of expenditure by nature in expenditure by destination.

16. Technical provisions; indicating the assumptions and methods of calculation used for each of the provisions constituted.

17. Provisions and contingencies; indicating the criterion of valuation, as well as, where appropriate, the treatment of compensation to be received from a third party at the time of the settlement of the obligation. In particular, a general description of the method of estimation and calculation of each of the risks shall be given in relation to the provisions.

18. Property assets of an environmental nature, indicating, where applicable, the description of the method of estimation and calculation of provisions arising from the environmental impact.

19. Criteria used for the recording and valuation of staff expenditure, in particular, for pension commitments.

20. Stock-based payments; indicating the criteria used for accounting.

21. Grants, donations and legacies; indicating the criteria used for their classification and, where applicable, their imputation to results.

22. Business combinations; indicating the criteria for employee registration and valuation.

22. Joint ventures; indicating the criteria followed for integrating into the consolidated annual accounts the balances corresponding to the joint venture in which the group's companies participate.

In particular, the criteria applied to recognise and assess the assets and liabilities of the multi-group companies included in the consolidation shall be reported.

23. Associated companies, indicating the criterion used to account for the consolidated annual accounts of the group's investments in these companies.

24. Criteria used in related party transactions.

25. Assets held for sale; the following criteria shall be indicated for qualifying and valuing such assets or groups of items as held for sale, including the associated liabilities.

26. Interrupted operations; criteria for identifying and qualifying an activity as interrupted, as well as the revenue and expenses that originate.

6. Tangible fixed assets

Analysis of movement during the exercise of each consolidated balance sheet item included in this item and its corresponding accumulated write-downs and cumulative impairment valuation corrections; next:

a) Initial save.

b) Entries or envelopes, specifying acquisitions made by business combinations and non-cash contributions, as well as those due to extensions or improvements.

c) Reversion of Impairment Valuation corrections.

d) Increases/decreases by transfers or transfers of other items; in particular to non-current assets held for sale or discontinued operations.

e) Outputs, casualties, or reductions.

(f) Impairment Valuation (s), differentiating those recognised in the financial year, from cumulative ones.

g) Amortiations, differentiating those recognized in the exercise, from the accumulated ones.

h) End save.

7. Real estate investments

Analysis of movement during the exercise of each consolidated balance sheet item included in this item and its corresponding accumulated write-downs and cumulative impairment valuation corrections; next:

a) Initial save.

b) Entries or envelopes, specifying acquisitions made by business combinations and non-cash contributions, as well as those due to extensions or improvements.

c) Reversion of Impairment Valuation corrections.

d) Increases/decreases by transfers or transfers of other items; in particular to non-current assets held for sale or discontinued operations.

e) Outputs, casualties, or reductions.

(f) Impairment Valuation (s), differentiating those recognised in the financial year, from cumulative ones.

g) Amortiations, differentiating those recognized in the exercise, from the accumulated ones.

h) End save.

8. Intangible fixed assets

Analysis of movement during the exercise of each consolidated balance sheet item included in this item and its corresponding accumulated write-downs and cumulative impairment valuation corrections; next:

a) Initial save.

b) Entries or envelopes, specifying acquisitions made by business combinations and non-cash contributions, as well as those due to extensions or improvements.

c) Reversion of Impairment Valuation corrections.

d) Increases/decreases by transfers or transfers of other items; in particular to non-current assets held for sale or discontinued operations.

e) Outputs, casualties, or reductions.

(f) Impairment Valuation (s), differentiating those recognised in the financial year, from cumulative ones.

g) Amortiations, differentiating those recognized in the exercise, from the accumulated ones.

h) End save.

9. Goodwill

9.1 Consolidation Trading Fund.

The acquisition by the dominant company (acquiring company) of the control of a dependent company (acquired company) constitutes a combination of businesses in which the dominant company has acquired control of the company. all the assets of the dependent company.

This section will include the following information:

1. For each business combination that has been carried out in the financial year, the trade fund figure shall be expressed, broken down to the different business combinations.

Dealing with business combinations that individually lack relative importance, the above information will be displayed in aggregate.

This information must also be expressed for business combinations between the closing date of the consolidated annual accounts and the date of their formulation, unless it is not possible, in this case, the reasons why this information cannot be provided.

2. The company shall make a reconciliation between the carrying amount of the goodwill at the beginning and end of the year, showing separately:

(a) The gross amount of the same and the cumulative impairment value adjustments at the beginning of the financial year.

(b) The additional goodwill recognised during the period, differentiating the trading fund included in a qualifying group of items that has been classified as held for sale, in accordance with the rules of registration and valuation. It shall also be reported on the low trading fund during the period without previously being included in any qualifying group of items classified as held for sale.

(c) Adjustments arising from the subsequent recognition of deferred tax assets made during the interim valuation period.

d) Impairment Valuation corrections recognised during the financial year.

e) Any other changes to the amount in books during the exercise, and

(f) The gross amount of the goodwill and the cumulative impairment value adjustments at the end of the financial year.

3. Description of the factors which have contributed to the registration of the goodwill as well as, shall be justified and shall indicate the amount of the goodwill and other intangible fixed life intangible assets attributed to each unit generating unit cash.

4. For each significant impairment loss of the goodwill, the following shall be reported:

(a) Description of the cash-generating unit that includes the goodwill as well as other intangible or intangible assets and the way the pool is made to identify a cash-generating unit when is different from the one performed in previous exercises.

b) Amount, events, and circumstances that have led to the recognition of a impairment valuation correction.

c) Criteria used to determine the fair value minus the selling costs, if any, and

d) If the method used is the value in use, the type or types of update used in the current and previous estimates, a description of the key assumptions on which the data are based, shall be reported. projections of cash flows and how their securities have been determined, the period covering the projection of cash flows and the growth rate of cash flows from the fifth year onwards.

5. With respect to aggregate impairment losses for which the information referred to in the preceding number is not disclosed, the main events and circumstances that have led to the recognition of such impairment valuation corrections.

6. The assumptions used for the determination of the recoverable amount of assets or cash-generating units.

9.2 Trade Fund recognized in the individual accounts of the companies to which the method of global or proportional integration applies.

10. Consolidation negative difference

10.1 Negative Consolidation Differences.

1. Analysis of the composition of the consolidated profit and loss account item "Negative consolidation difference". The reasons why the transaction has resulted in the balance of these items should be described when they are significant.

2. Breakdown of the final balance according to the shareholdings that have generated the negative consolidation differences.

3. Also, where appropriate, the intangible assets and quotas that have not been registered for not being able to calculate their valuation by reference to an active market shall be described.

10.2 Negative differences recognized in the individual accounts of the societies to which the global integration method applies.

11. External partners

The following information will be displayed:

1. Breakdown of this subpool indicating for each dependent society:

a) The movement in the exercise and the causes that have originated it and

(b) The composition of the balance at the end of the financial year, differentiating between its equity participation, adjustments for changes in value and grants, donations and legacies.

2. If the acquisition of the dependent business condition has taken place during the financial year, the amount of the external partners in the acquisition recognised at the date of acquisition shall be reported.

3. Participation of external partners in the trade fund accounted for in the consolidated annual accounts.

4. Description of the significant agreements formalised by the companies belonging to the group with the external partners on the equity instruments of a dependent company, such as future purchase commitments or the issuance of options for sale, forcing you to deliver cash or other assets if such agreements are executed.

12. Changes in the percentage of participation in the group's societies

1. The effects on equity attributable to the owners of the parent of those changes in the share of the parent in the ownership of a subsidiary that do not result in loss of control shall be reported. In particular, for each significant operation the following information will be displayed:

a) Variation in reservations.

b) Variation in the headings of the B-2 subpool) Adjustments by value changes, and in the B-3 subpool) Grants, donations, and legacies received.

c) Where appropriate, goodwill attributed to minority partners.

2. If the control of a dependent is lost, the benefit or loss shall be reported if there is any loss. In particular, the following information will be displayed:

a) The portion of the profit or loss attributable to the recognition of the retained investment in which it was previously a dependent entity for its fair value on the date on which it loses control; and

b) The portion of the reclassified profit or loss to the consolidated profit and loss account.

c) The benefit or loss that subsidizes after you practice the appropriate adjustments.

13. Holdings in companies placed in equivalence

The following information will be displayed:

1. Breakdown of this item by companies placed in equivalence, indicating the movement of the exercise and the causes that have originated it.

2. The fair value of investments in these companies, for which there are price quotations.

3. Summary financial information of the companies, where the cumulative amount of the assets, liabilities, ordinary income and profit or loss of the financial year shall be included.

4. The portion of losses of the unrecognized associate, distinguishing those that are from the year and the accumulated ones, in the event that the investment company has ceased to recognize the part that corresponds to the loss of the company.

5. Result of the exercise of the companies placed in equivalence corresponding to the investment company. You will need to be informed of the accounts in the profit and loss account and of which it looks directly in the net worth. In particular, it shall be informed of the investor's share of any interrupted activity of such entities.

6. The share of the contingent liabilities of an associate in which the group's companies have incurred together with other investors and those contingent liabilities that have arisen because the investment company is responsible shall be reported. subsidiary in relation to a part or all of the liabilities of an associate.

14. Financial instruments

1. The book value shall be disclosed, with reference to each of the categories of financial assets and financial liabilities identified in the standard of registration and valuation of financial instruments, of the various financial instruments in each included, grouped by typologies, reporting the variation from the previous year. The financial instruments whose investment risk is assumed by the policyholders, investments affecting the preparatory operations of insurance contracts and those linked to participation in the benefits of the policyholders shall be detailed.

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15. Tax situation

Identification of group companies that are taxed in the tax consolidation regime.

16. Provisions

Analysis of the movement of each consolidated balance sheet item during the financial year, indicating:

• Initial save.

• Dotations.

• Applications.

• Other adjustments made (business combinations, etc.).

• End Balance

It will not be necessary to include comparative information in this section.

17. Grants, donations and legacies

Reports on:

1. The amount and characteristics of the grants, donations and legacies received that appear on the consolidated balance sheet, as well as those attributed to the consolidated profit and loss account.

2. Analysis of the movement of the content of the corresponding subpool of the consolidated balance sheet, indicating the initial and final balance as well as the increases and decreases. In particular, the amounts received and, where appropriate, returned shall be reported.

3. Information on the origin of the grants, donations and legacies, indicating, for the first, the public Ente that grants them, specifying whether the grant of the same is the local, regional, state or international administration.

4. Information on whether or not the conditions associated with grants, donations and legacies are met.

5. Breakdown of grants, donations and legacies with origin in the dominant company, the consolidated companies and the companies placed in equivalence.

18. Post-closure events

The:

1. Subsequent events showing circumstances that already existed at the end of the financial year which did not, in accordance with their nature, include an adjustment in the figures contained in the annual accounts consolidated, but show the need for the information contained in the memory to be modified in accordance with that subsequent event.

2. Subsequent events showing conditions which did not exist at the close of the financial year and which are of such importance that, if no information is provided, could affect the assessment capacity of the users of the annual accounts. In particular, the subsequent event shall be described and the estimation of its effects shall be included. Where it is not possible to estimate the effects of the said fact, an express expression shall be included on this point, together with the reasons and conditions which cause such an impossibility of estimation.

19. Other information

Information about:

1. The average number of persons employed in the course of the year by the companies included in the overall integration in the consolidation, distributed by category. The gender distribution at the end of the year of the staff of the companies included in the overall integration in the consolidation, broken down into a sufficient number of categories and levels, including those of senior managers and the advisers. The average number of persons employed in the course of the financial year by the multi-group companies to which the method of proportional integration applies shall also be indicated separately.

2. Average number of persons employed in the course of the year by the companies included in the consolidation, with a disability greater than or equal to 33% (or local equivalent rating), indicating the categories to which they belong. The average number of persons employed in the course of the financial year by the multi-group companies to which the method of proportional integration applies shall be indicated separately.

3. Where financial instruments to which the method of global integration has been applied are included in the consolidated balance sheet, on the basis of which individual balance sheets are listed as assets and liabilities other than those appearing on the institutions ' balance sheets insurance, as appropriate, in the items "other assets" or "other liabilities" of the consolidated balance sheet of the group, and on the items referred to in the report the appropriate breakdown, as well as the information which, in accordance with its nature, the rules for the formulation of consolidated memory are required.

20. Technical information

1. Consolidation perimeter entities will disclose information regarding:

a) Accounting policies regarding insurance contracts.

(b) The objectives related to risk management by insurance contracts, risk management policies and procedures and the methods used for their measurement.

c) The reinsurance policy.

d) The concentration of insurance risk.

e) The quantification of exposures to life insurance policy risks referred to in Article 36.2 of the Private Insurance Management and Supervision Regulation.

2. In relation to life insurance, the following information will also be detailed:

2.1 Composition of the life business, by volume of premiums (direct insurance).

a)

a.1 Primas for individual contracts.

a.2 Primas for collective insurance contracts.

b)

b.1 Regular Prims.

b.2 Unique Primas.

c)

c.1 Contracts with no profit share.

c.2 Primas of contracts with profit participation.

c.3 Primes of contracts where the investment risk lies with policy holders.

The information contained in this paragraph shall be completed only when the life-class premiums represent more than 10 per 100 of the total business of the consolidation perimeter entities in direct insurance.

The preceding information shall also relate to the reinsurance premiums accepted when they represent at least 10 per 100 of the total lifetime premiums.

2.2 Technical conditions of the main life insurance modes.

The information indicated must relate to the insurance arrangements that represent more than 5 per 100 of the premiums or the mathematical provisions of the class of life, dealing with aspects such as the type of coverage to which the modality referred to, tables used, the technical interest and whether or not it is granted participation in benefits; in such case, the amount of the benefit distributed to the insured in each modality, as well as the form of distribution of benefit.

It will be indicated if it is the mode a.1, a.2, b.1, b.2, c.1, c.2, according to the nomenclature used for the previous section 2.1.

3. In relation to the non-life insurance, the following information shall also be detailed:

3.1 Revenue and technical expenses for classes, only for classes in which the premiums issued exceed EUR 2,000,000; but in any case, this paragraph shall be completed for the three most important classes.

	Direct insurance	Reassured accepted
I. Premiums imputed (Direct and accepted)
1. Premiums written net of cancellations and extortions
2. +/-variation provision for unconsumed premiums
3. +/-variation provision for ongoing risks.
4. +/-variation provision for premiums pending collection.
II. Reinsurance Premiums (Ceded And Regressed)
1. Net accruals of cancellations.
2. +/-variation provision for unconsumed premiums.
A. Total Reinsurance Net Premiums (I-II).
III. Sinister (Direct and Accepted)
1. Capabilities and expenses imputable to capabilities.
2. +/-variation technical provisions for capabilities.
IV. Reinsurance Sinister (Ceded and Backward).
1. Benefits and expenses paid.
2. +/-variation technical provisions for capabilities.
B. Total net reinsurance reinsurance (III-IV).
V. +/-variation other net reinsurance technical provisions.
VI. Acquisition (Direct and Accepted) expenses.
VII. Administration (Direct and Accepted) Expenses.
VIII. Other technical expenses (Direct and accepted)
IX. Commissions and participations in the transferred reinsurance and regressed.
C. Total operating expenses and other net technical expenses (V + VI + VII + VIII).

3.2 Technical result per year of occurrence.

In the non-life insurance classes, the following breakdown shall be made taking into account the following:

The premiums shall be the accruals in the financial year, excluding the cancellation and cancellation of previous financial years.

The claims shall be those occurring in the financial year and the costs of the claims shall be attributable to the claims.

I. Purchased premiums (Direct and accepted):

1. Premiums written net of cancellations and extortions.

2. +/-variation provision for unconsumed premiums.

3. +/-variation provision for premiums outstanding.

II. Reinsurance-based reinsurance premiums:

1. Premiums written net of cancellations and extortions.

2. +/-variation provision for unconsumed premiums.

A. Total of net acquired reinsurance premiums (I-II).

III. Sinister (Direct and Accepted):

1. Benefits and expenses attributable to benefits.

2. Technical provision for performance of claims occurring in the financial year.

IV. Reinsurance claims (Transferred):

1. Benefits and expenses paid from claims occurring in the financial year.

2. Technical provisions for the performance of claims occurring in the financial year.

B. Total net reinsurance claims (III-IV).

V. Acquisition expenses (Direct).

VI. Administration Expenses (Direct).

VII. Other technical expenses (Direct).

VIII. Fees and shares in the transferred reinsurance and regressed (Transferred).

IX. Net technical financial income of expenses of the same nature.

4. If, pursuant to paragraph 3 of the Standard of Registration and Valuation 9, one of the entities in the consolidable group recognised through the net worth or the profit and loss account and/or assets or liabilities corrective to accounting asymmetries, include information on consolidated notes for each type of insurance transaction, as well as the reconciliation of the balance of the assets and liabilities for accounting asymmetries at the beginning and at the end of the exercise.

21. State of coverage of technical provisions

1. In this section, the models that the entities of the consolidation perimeter must be drawn up for the purposes of the completion of the Statistical-Accounting Documentation must be reproduced in this section.

For these states, you should indicate:

• Employee assessment criteria.

• It will be included in the previous year. In the case of intermediate financial statements, the preceding period shall be provided.

• In the event of a deficit, reasons which the entity considers to have originated and measures taken or to be taken to overcome this situation, with indication in its case of goods that do not yet meet the requirements of fitness, could affect them on a transitional basis until such requirements are met.

• Changes in the allocation of eligible assets from life to non-life and/or vice versa.

2. The technical provisions and the eligible assets shall be reported as a result of the aggregation of the individual coverage states of each of the insurance entities that make up the consolidable group.

2.1 Provisions for unconsumed premiums and for ongoing risks.

The calculation methods used in each of the insurance institutions of the consolidable group and the criteria followed for the determination of the respective calculation bases shall be indicated.

2.2 Provisions for Life Insurance.

The breakdown by means of insurance shall be made, with the indication, in the case of mathematical provisions, of the weighted average technical interest for each of them.

2.3 Provisions for capabilities.

A distinction shall be made between provisions for outstanding payment, settlement, declaration and settlement expenses.

2.4 Other technical provisions.

The provision class and the classes or modalities in which it is constituted shall be indicated, as well as the criteria followed for their allocation.

In any event, the information relating to the technical provisions shall relate to both direct insurance and to the reinsurance accepted, and the impact of the transferred reinsurance shall be specified.

In the case of subsidiaries of countries outside the European Economic Area, the above information shall relate to provisions incorporated in accordance with the laws of each country.

22. State of the solvency margin and guarantee fund

1. The model that the State of the Solvency Margin and the Guarantee Fund that the institutions of the consolidation perimeter must make for the purposes of the completion of the Documentation shall be reproduced in this section. Statistic-Accounting.

You must also indicate:

• Employee assessment criteria.

• It will be included in the previous year. In the case of intermediate financial statements, the preceding period shall be provided.

• Main variations in terms of the minimum amount payable in respect of the previous year.

• In case of membership of a consolidated group of insurance institutions, indication of the minimum amount of the consolidated solvency margin and the uncommitted consolidated equity.

• In the event of a deficit, circumstances that the entity considers to have originated and measures taken or to be taken to alleviate this situation.

• Changes in the allocation of solvency margin items from life to non-life activity and/or vice versa.

2. Information on the minimum amount of the consolidated solvency margin and the eligible items of the solvency margin shall be collected. In particular, the comparison between the uncommitted own equity of the consolidable group and the minimum requirements for own resources payable to the group shall be analysed taking into account the transactions carried out between the entities belonging to the group. to that.

In the event that the group has subsidiaries in countries outside the European Economic Area, it shall be added to the minimum amount of the solvency margin for all entities belonging to the European Economic Area. minimum amount of those entities calculated in accordance with the rules of each country.

Not to be computed as part of the assets of the consolidable group of insurance companies those items which, as part of the own funds in the consolidated balance sheet, correspond to entities outside the consolidated group of insurance institutions, whether they are entities in the non-financial group, and non-consolidated financial institutions, and non-financial partner companies, whatever their class. Similarly, own funds from companies that are integrated into the consolidable group shall not be included as an instrument.

23. Consolidated cash flow statements

The consolidated cash flow statements of the companies in the consolidable group will be aggregated, with an explanation of the cash movements produced between companies in the group.

24. Reclassifications in the consolidated profit and loss account

When instrumental companies or non-insurance financial corporations are involved in the consolidation, which, as part of the consolidable group, are consolidated by global integration with the rest of the insurance companies of the group, the reclassifications of income and expenses that are necessary to be included in the profit and loss account under the name corresponding to its true nature, from the point of view of the activity insurer. On these reclassifications, the composition of the income and expenses that have been affected by them, and on the criteria followed for their performance, detailed information will be provided in the memory.

25. Reinsurance and co-insurance operations

The reinsurance and co-insurance operations of the consolidable group shall be reported, specifying the results that have occurred. In particular, information will be provided on:

• Revenue and technical expenses for agreed reinsurance and reinsurance operations.

• Other non-technical income and expenses.

• Salts with reinsurers and cedants.

• Deposits constituted or transferred by reinsurance accepted or transferred, respectively.

• Technical visions for accepted or transferred reinsurance.

ANNEX III

Summary of Memory to Publish by Business State Public Sector Credit Entities

At least one report will be reported:

1. Group, multi-group and partner societies

1. In relation to the group, multi-group and associated companies, at least the following shall be reported:

a) Denomination of the company.

b) Type of activity.

c) An express indication of whether this is a group, multigroup, or associated society.

d) Percentage of participation, with indication of whether it is direct or indirect.

e) Valuation of the participation, with indication, if appropriate, of the deterioration.

f) Economic and accounting data relating to the value of assets, net worth and results of the entity.

2. A breakdown shall be provided, by entities included in the consolidation (either by the method of global, proportional or participating integration), of the following:

a) Cumulative (loss) reserves.

b) Reservations (losses) in associated entities.

c) Recognized change differences in net worth as a result of the consolidation process.

d) Consolidated profit for the year.

2. Presentation bases and assessment criteria applied

At least one report will be reported:

1. Basis for the presentation of the consolidated annual accounts, clearly indicating that the consolidated annual accounts have been formulated in accordance with the public financial information rules of Circular 4/2004.

2. Use of judgments and estimates in the preparation of consolidated financial statements.

3. Assessment criteria applied, referred to:

a) Financial instruments, with indication of:

• Initial record.

• Transfers and casualties.

• Reasonable value and amortized cost.

• Classification and rating.

b) Financial derivatives.

c) Foreign currency operations.

d) Recognition of revenue and expenses.

e) Balance netting.

f) Impairment of the value of financial assets.

g) Financial guarantees and provisions incorporated therein.

h) Accounting for lease operations.

i) Personnel expenses.

j) Benefits tax.

k) Material assets.

l) Intangible assets.

m) Contingent liabilities and liabilities.

n) Cash flow status.

o) Non-current assets for sale and liabilities associated with non-current assets for sale.

p) Other assessment criteria.

3. Changes in accounting criteria

When a change in accounting criteria takes effect in the current financial year or in any previous year, the nature and reasons for the change shall be reported.

4. Facts after the balance sheet date

The events occurring after the closure of the consolidated financial statements that may affect the implementation of the operating business scenario shall be reported.

5. Errors and changes in accounting estimates

When an error is corrected for one or more previous exercises, you will report the nature of the error and the correction made.

It shall also indicate the nature and amount of any change in an accounting estimate that affects the current financial year or is expected to affect future financial years.

6. Risk exposure

1. Liquidity risk.

A description of how the liquidity risk is managed will be performed. If it does so on the basis of the expected maturity of the financial instruments, it shall include an expected maturity analysis of the financial assets and liabilities and report on how it carries out these estimates and the main reasons for the differences with contractual deadlines.

2. Market risk.

1. A sensitivity analysis shall be included for each type of market risk to which it is exposed on the date to which the consolidated financial statements relate, showing how the net worth and the loss account would be affected and consolidated earnings, due to the reasonably possible changes in each relevant risk variable (exchange rate, interest rate or other variables, such as prices of capital instruments and listed commodities) if they were applied to the risk exposures existing at that date. When disclosing the sensitivity information to the different risk variables, the methods and assumptions that have been used as a basis for preparing the information and shall inform the information of the changes that have occurred in the same respect shall be indicated. previous exercise and the reasons for such changes.

When sensitivity analysis is at risk of change, a breakdown shall be made for each currency in which the entity has significant exposure.

2. If a sensitivity analysis is prepared, such as the value at risk, which reflects the interdependencies between risk variables and uses it to manage financial risks, you can disclose this analysis instead of the one in the previous. In this case, it should also be revealed:

a) An explanation of the method used to prepare this sensitivity analysis, including information about all the relevant assumptions and parameters that have been handled, such as the confidence interval and the time horizons used.

b) An explanation of the objective of the method used, as well as the limitations of the method that could make the information not fully reflect the fair value of the financial assets and liabilities involved.

c) A description of the financial instruments whose market risk is managed using this analysis.

3. Operational risk.

The facts or circumstances that may lead to the existence of an operational risk shall be indicated, describing the actions that are developed for the detection, monitoring and evaluation of those actions.

4. Credit risk.

For each class of financial instrument, the exposure to credit risk shall be reported, including the amount that best represents the highest level of credit risk exposure on the date referred to in the consolidated financial statements without deducting actual collateral or credit enhancements received to ensure compliance.

5. Concentrations of risks.

Information on the risk concentrations of financial instruments that have similar characteristics and may be affected in a similar manner by economic or other changes shall be provided.

7. Financial instruments

1. For each portfolio or category of financial instrument, it shall be indicated:

• Description of financial instruments that integrates that portfolio or category.

• Assessment criteria, both initial and later.

• Impairment of value, with indication of the criterion followed for its determination.

• Initial save.

• Movements or operations performed during exercise.

• End Balance

2. The amount of reclassifications that have taken place between the different portfolios as provided for in the 20th rule of Circular 2/2004, and the justification for such reclassifications, as well as the changes in criteria, shall be provided. valuation of equity instruments or derivatives on equity instruments from cost to fair value, and vice versa.

3. Where financial assets have been transferred in such a way that some or all of the financial assets do not fall from the consolidated balance sheet, it shall be disclosed for each class of those financial assets:

a) The nature of the assets.

b) The nature of the risks and benefits to which the consolidation perimeter remains exposed.

c) When the assets are fully recognised, the book value of the assets and the associated liabilities.

(d) When the assets are continued to be recognised in the measure of their continued commitment, the book value of the original assets, the amount of the assets that the institution continues to recognise and the carrying value of the liabilities associates.

4. Indication of interests and similar income, taking into account their origin.

5. Indication of the interest and charges assimilated, taking into account their origin.

8. Tangible assets and intangible assets

In relation to the material and intangible asset, we will report on:

1. Amortization methods, useful lives, and amortization percentages used.

2. Analysis of the movement during the exercise of the items of material and intangible assets, and their corresponding accumulated write-downs and cumulative amount of impairment losses, indicating:

• Initial save.

• Investments or additions made.

• Amorations.

• Amount of impairment losses as well as those that have been reversed during the financial year.

• Traces and other movements.

9. Provisions, contingent liabilities and credit commitments

1. Provisions.

A brief description shall be made for each of the provisions constituted, of the nature of the obligation assumed, of the estimates and calculation procedures applied for the valuation of the corresponding amounts.

2. Contingent liabilities and contingent assets.

For each type of asset and contingent liability, a brief description of its nature, foreseeable evolution and factors of which it depends will be performed.

3. Credit commitments.

It will be distinguished between the immediate availability credit commitments of those whose availability is conditional upon the occurrence of future events.

10. Foreign currency transactions

It will be flagged:

The overall amount of the assets and liabilities denominated in foreign currency, expressed in the currency of presentation, including a breakdown by items of the assets and liabilities classified in the currencies plus significant.

The valuation method used to calculate the conversion of such assets and liabilities and the exchange rates applied shall also be indicated.

The amount of change differences recognized in the consolidated profit and loss account, except those included in the portfolio of financial assets and liabilities at fair value with changes in profit and loss.

When the functional currency is different from the euro, that fact must be revealed, along with information regarding the functional currency.

11. Non-current assets for sale

1. The following information shall be indicated at least:

• Initial save.

• Additions.

• Shooting or using.

• Traces.

• End Balance

2. The non-current assets for sale that are provided shall be reported with an indication of the amount of that provision.

12. Tax situation

Identification of group companies that are taxed in the tax consolidation regime.

13. Other information

Information about:

will be provided with summary character:

a) Environmental impact.

(b) Minimum co-efficient, with an indication of minimum ratios, minimum reserve ratios and capital management.

c) Information by business segments.

d) Personnel expenses.