| Earnings per share Basic and diluted earnings per share are calculated in accordance with the criteria established by IAS 33 "Earnings per share". For more information see Glossary. The calculation of earnings per share is as follows: | | | | | | | | | | | | BASIC AND DILUTED EARNINGS PER SHARE | | | | | | 2025 | 2024 | 2023 | | Numerator for basic and diluted earnings per share (millions of euros) | | | | Profit attributable to parent company | 10,511 | 10,054 | 8,019 | Adjustment: Additional Tier 1 securities ⁽¹⁾ | (397) | (388) | (345) | | Profit adjusted (millions of euros) (A) | 10,114 | 9,666 | 7,675 | Profit (loss) from continued operations (net of remuneration of Additional Tier 1 capital instruments) | 10,114 | 9,666 | 7,675 | Profit (loss) from discontinued operations (net of non-controlling interests) (B) | — | — | — | Denominator for basic earnings per share (number of shares outstanding, in millions) ⁽²⁾ | | | | Weighted average number of shares outstanding | 5,762 | 5,793 | 5,988 | | | | | Average treasury shares | (9) | (10) | (5) | Share buyback program (average) | (5) | (13) | (28) | | Adjusted number of shares - Basic earnings per share (C) | 5,748 | 5,769 | 5,954 | | Adjusted number of shares - diluted earnings per share (D) | 5,748 | 5,769 | 5,954 | | Earnings (losses) per share | 1.76 | 1.68 | 1.29 | Basic earnings (losses) per share from continuing operations (Euros per share) A-B/C | 1.76 | 1.68 | 1.29 | Diluted earnings (losses) per share from continuing operations (Euros per share) A-B/D | 1.76 | 1.68 | 1.29 | Basic earnings (losses) per share from discontinued operations (Euros per share) B/C | — | — | — | Diluted earnings (losses) per share from discontinued operations (Euros per share) B/D | — | — | — |
(1) Remuneration in the year related to perpetual contingent convertible securities, recognized in equity (see Note 22.4). (2) For the calculation of earnings per share, the average number of shares in a year takes into account the redemptions made in such year related to the share buyback programs (see Note 4).
As of December 31, 2025, 2024 and 2023, there were no other financial instruments or share option commitments to employees that could potentially affect the calculation of the diluted earnings per share for the years presented. For this reason, basic and diluted earnings per share are the same.
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