Company: BBVXF
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001193125-25-198517
Chunk: 542

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-09
Form: 424B3
Chunk 542
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 of customers, average customer balances, average revenue and the assigned cost-to-incomeratio. Changes in the estimated useful life of intangible assets are treated in a similar way to changes in the estimated useful life of tangible assets. A-368

1.3.13 Inventories Inventories are non-financialassets that are held by the Group for their use or sale in the ordinary course of its business, or which are in the process of production, construction or development for such sale or use, or which are to be consumed in the production process or in the rendering of services. As a general rule, inventories are measured at the lower of cost and net realisable value. Net realisable value means the estimated selling price net of the estimated production and marketing costs to carry out the sale. Decreases in net realisable value and, where applicable, any subsequent recoveries in value are recognised under the heading “Impairment or (-) reversal of impairment on non-financialassets – Other” of the consolidated income statement for the year in which they materialise. Inventories correspond to land and buildings and their net realisable value is calculated based on the appraisal carried out by an independent expert, entered in the Bank of Spain Special Register of Appraisal Firms and performed in accordance with the criteria established in Order ECO/805/2003 on rules for the appraisal of real estate and particular rights for specific financial purposes, which is then adjusted taking into account past experience in selling assets that are similar in terms of prices, the period during which each asset remains on the consolidated balance sheet and other explanatory factors. Nevertheless, statistical methodologies may be used to update appraisals for properties with a fair value of no more than 300,000 euros and which have a certain level of homogeneity among them, in other words, those with low exposure and low risk whose characteristics are likely to be shared by other properties and which are located in an active market with frequent transactions, although a full appraisal is carried out in accordance with the aforesaid ECO Order (an “ECO appraisal”) at least once every three years. The carrying amount of the inventories is derecognised from the consolidated balance sheet and recognised as an expense during the year in which the income from its sale is recognised. 1.3.14 Own equity instruments Own equity instruments are defined as equity instruments that meet the following conditions:

| – | They do not involve any contractual obligation for the issuer that entails: delivering cash or another financial                                                
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