Company: BCDRF
Filing Date: 2025-04-30
Form Type: 6-K
Source: 0000891478-25-000084
Chunk: 42

Company: Banco Santander, S.A.
Filing Date: 2025-04-30
Form: 6-K
Chunk 42
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             |      14 |         |            |    -298 |         |
| Changes in the fair value of debt instruments measured at fair value with changes in other comprehensive income   |     |             |    -705 |         |            |    -736 |         |
| Hedging instruments (items not designated)                                                                        |     |             |       — |         |            |       — |         |
| Non-current assets held for sale                                                                                  |     |             |       — |         |            |       — |         |
| Share in other income and expenses recognised in investments, joint ventures and associates                       |     |             |    -431 |         |            |    -427 |         |

d) Other comprehensive income - Items not reclassified to profit or loss - Actuarial gains or losses on defined benefit pension plans

The balance of the heading Other accumulated comprehensive income - Items not reclassified to profit or loss - Actuarial gains or losses on defined benefit pension plans, includes the actuarial gains or losses and the return on the assets assigned to the plan, less administration costs and plan's own taxes, and any change in the effects of the asset limit, excluding amounts included in net interest on net defined benefit liability (asset). Its variation is shown in the consolidated condensed statement of recognized income and expense.

During the first three months of 2025, the amount of actuarial losses (net of actuarial gains) has decreased by EUR 91 million. The main impacts are:

In first place, due to the lower addition against equity amounting to EUR 94 million, with the following breakdown:

• Decrease of EUR 76 million in the cumulative actuarial losses relating to the Group´s businesses in the UK, mainly due to the variation in the discount rate (increase from 5.54% to 5.81%) and the variation in inflation (decrease from 3.11% to 3.06%). These effects have been partially offset by the behaviour of the asset portfolio.

• Decrease of EUR 24 million in the accumulates actuarial losses relating to the Group´s entities in Spain, mainly due to the evolution experienced by the discount rate -increase from 3.00% to 3.60%-.

• Decrease of EUR 20 million in the accumulates actuarial losses relating to the Group´s entities in Germany, mainly due to the evolution experienced by the discount rate -increase from 3.56% to 3.92%-.