46. Impairment losses on financial assets (net)

1. Introduction, basis for the presentation of the consolidated financial statements and internal control of financial information.
2. Principles of consolidation, accounting policies and measurement bases applied and recent IFRS pronouncements
3. BBVA Group
4. Shareholder remuneration system and allocation of earnings
5. Earnings per share
6. Operating segment reporting
7. Risk management
8. Fair value
9. Cash and balances with central banks
10. Financial assets and liabilities held for trading
11. Other financial assets and liabilities at fair value through profit or loss
12. Available-for-sale financial assets and Held-to-maturity investment
13. Loans and receivables
14. Hedging derivatives (receivable and payable) and Fair-value changes of the hedged items in portfolio hedges of interest-rate risk
15. Non-current assets held for sale and liabilities associated with non-current assets held for sale
16. Investments in entities accounted for using the equity method
17. Tangible assets
18. Intangible assets
19. Tax assets and liabilities
20. Other assets and liabilities
21. Financial liabilities at amortized cost
22. Insurance and reinsurance contracts
23. Provisions
24. Pensions and other post-employment commitments
25. Common stock
26. Share premium
27. Reserves
28. Treasury stock
29. Valuation adjustments
30. Non-controlling interests
31. Capital base and capital management
32. Contingent risks and commitments
33. Other contingent assets and liabilities
34. Purchase and sale commitments and future payment obligations
35. Transactions on behalf of third parties
36. Interest income and expense and similar items
37. Income from equity instruments
38. Share of profit or loss of entities accounted for using the equity method
39. Fee and commission income
40. Fee and commission expenses
41. Net gains (losses) on financial assets and liabilities (net)
42. Other operating income and expenses
43. Administration costs
44. Depreciation and amortization
45. Provisions (net)
46. Impairment losses on financial assets (net)
47. Impairment losses on other assets (net)
48. Gains (losses) on derecognized assets not classified as non-current assets held for sale
49. Gains (losses) on non-current assets held for sale
50. Consolidated statements of cash flows
51. Accountant fees and services
52. Related-party transactions
53. Remuneration and other benefits of the Board of Directors and Members of the Bank’s Management Committee
54. Other information
55. Subsequent events
56. Explanation added for translation into English

The breakdown of impairment losses on financial assets by the nature of those assets in the accompanying consolidated income statements is as follows:

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Impairment Losses on Financial Assets (Net)	Notes	Millions of Euros
Impairment Losses on Financial Assets (Net)	Notes	2014	2013	2012
Available-for-sale financial assets	12	36	36	41
Debt securities		19	5	(5)
Other equity instruments		17	31	46
Loans and receivables	7.3.8	4,304	5,577	7,817
Of which:
Recovery of written-off assets	7.3.7	443	362	337
Total		4,340	5,612	7,859

financial statements 2014

46. Impairment losses on financial assets (net)