The accompanying table shows the book values of portfolios held for sale and those held for strategic purposes:
(Million euros)
|
|
Book value | |||
|---|---|---|---|---|
| Item | Permanent investment portfolio (1) | Available-for-sale financial assets | Other financial assets with changes in P&L | Total |
| 31/12/2011 | 7,941 | 5,139 | 556 | 13,637 |
| 31/12/2012 | 6,795 | 3,965 | 2,076 | 12,836 |
The fair value of the permanent investment portfolio, calculated on the basis of the official trading price of the listed companies, was €2,136 million and €1,779 million below the book value as of December 31, 2012 and 2011, respectively.