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Financial statements

PARENT COMPANY FINANCIAL STATEMENTS AND NOTES

5.4.3. NOTES TO THE FINANCIAL STATEMENTS

NOTE 1 Summary of significant accounting policies 277 NOTE 15 Bonds 292

NOTE 2 Movements in fixed assets 280 NOTE 16 Liabilities by maturity 292

NOTE 3 Property and equipment NOTE 17 Receivables by maturity 293 and intangible assets 280 NOTE 18 Related party items 294 NOTE 4 Movements in amortization 281 NOTE 19 Finance leases 294 NOTE 5 Receivables 281 NOTE 20 Breakdown of net revenue 294

NOTE 6 Movements in shares in subsidiaries and affiliates and other investment

NOTE 21 Directors’ fees, executive compensation

securities 282

and workforce 295 NOTE 7 Movements in provisions 284

NOTE 22 Financial income and expenses 296 NOTE 8 Marketable securities portfolio 285

NOTE 23 Non-recurring income and expenses 297 NOTE 9 Accruals and other assets/liabilities 286

NOTE 24 Income tax 297 NOTE 10 Unrealized foreign exchange gains

NOTE 25 Deferred tax 299

and losses 286 NOTE 26 Off-balance sheet commitments given

NOTE 11 Accrued income 287 and received 300 NOTE 12 Accrued expenses 287 NOTE 27 Subsequent event 301 NOTE 13 Changes in shareholders’ equity 287 NOTE 28 Main subsidiaries and affiliates at NOTE 14 Stock option and performance share plans 288 December 31, 2012 302