To estimate the S&P-adjusted FFO-to-debt ratio for FERROVIAL SA for the fiscal year 2022, we follow the S&P methodology for corporate issuers and the specific parameters for the Transportation Infrastructure sector.

**Step 1: Estimate Adjusted EBITDA**
First, we determine the reported EBITDA by taking the operating income and adding back depreciation and amortization, or by utilizing the reported gross profit which acts as EBITDA here before D&A.
- Revenue: 7,551m EUR
- Operating Expenses: 6,825m EUR
- Implied Operating EBITDA (Continuing): ~726m EUR
- Reported "Gross Profit" (matching the implied EBITDA): 728m EUR 
- Add: "Gross Profit Loss From Discontinued Operations": 155m EUR
- Total Consolidated EBITDA: 728m + 155m = 883m EUR

Under S&P methodology, when proportional consolidation is not utilized for joint ventures/associates, dividends received from these equity investments are added to EBITDA (while equity-method earnings are excluded because they are non-cash). 
- Dividends Received (Classified as Operating Activities): 284m EUR
**Adjusted EBITDA** = 883m + 284m = 1,167m EUR

**Step 2: Estimate FFO (Funds From Operations)**
FFO is calculated by subtracting cash interest paid and cash taxes paid from Adjusted EBITDA. 
- Cash Interest Paid (Net): Interest paid (financing) less Interest received (investing) = 329m - 47m = 282m EUR
- Cash Taxes Paid (Operating): 82m EUR
**FFO** = 1,167m - 282m - 82m = 803m EUR

*(Note: We can cross-verify this using the Cash Flow from Operations (CFO) approach: CFO (1,002m) + Working Capital Outflow (83m) - Net Cash Interest Paid (282m) = 803m EUR, which aligns perfectly).*

**Step 3: Estimate Adjusted Debt**
To calculate S&P Adjusted Debt, we aggregate reported debt, add capitalized leases, post-retirement obligations, the debt portion of hybrid securities, and other debt-like financial liabilities, then deduct accessible cash and cash equivalents. 
- Noncurrent Borrowings: 10,776m EUR
- Current Borrowings: 877m EUR
- Lease Liabilities (Current + Noncurrent): 64m + 120m = 184m EUR
- Pensions (Noncurrent Provisions for Employee Benefits): 2m EUR
- Hybrid Debt Portion (50% of the 508m EUR "Other Equity Securities"): 254m EUR
- Other Noncurrent Financial Liabilities (typically debt-like items such as deferred consideration or concession payables): 838m EUR
- Less: Eligible Cash and Cash Equivalents (excluding long-term restricted cash): 5,130m EUR

**Adjusted Debt** = 10,776m + 877m + 184m + 2m + 254m + 838m - 5,130m = 7,801m EUR

**Step 4: Calculate FFO to Adjusted Debt**
FFO / Adjusted Debt = 803m / 7,801m = 0.102935...

<answer>0.1029</answer>