2011 Annual Report Financial Supplements - BDO

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13.03 Deposits Under EscrowDeposits under escrow pertain to the portion of the cash received by BDO Unibank Group inconsideration for its assumption of First e-Bank Corporation’s deposits and other liabilities inOctober 2002. This amount is held in escrow pending compliance by BDO Unibank Groupwith certain terms and conditions, particularly the transfer of titles, as stipulated in theMemorandum of Agreement (MOA). Deposits under escrow earn an annual effective interestof 5.8% and 5.7% in 2011 and 2010, respectively.13.04 Non-current Assets Held for saleNon-current assets held for sale consist of real and other properties acquired throughrepossession or foreclosure that BDO Unibank Group intends to sell within one year fromthe date of classification as held for sale. Impairment loss recognized by the BDO UnibankGroup and the Parent Bank on non-current assets held for sale in 2011, 2010 and 2009amounted to P131, P128 and P5, respectively (see Note 14).13.05 GoodwillGoodwill represents the excess of the cost of acquisition of the Parent Bank over the fairvalue of the net assets acquired and branch licenses at the date of acquisition. This issignificantly from the acquisition of BDO Card Corporation, United Overseas BankPhilippines (UOBP), American Express Bank, Ltd. and GE Money Bank (see Note 26.02),which were acquired in 2005, 2006, 2007 and 2009, respectively. The BDO Unibank Groupand the Parent Bank recognized impairment loss of P150, P271 and P171 in 2011, 2010 and2009, respectively (see Note 14).13.06 OthersAmortization expense on computer software licenses amounted to P373, P170, and P125 in2011, 2010 and 2009, respectively, in the BDO Unibank Group financial statements andP371, P173, and P134 in 2011, 2010 and 2009, respectively, in the Parent Bank financialstatements. These are included as part of Miscellaneous under Other Operating Expensesaccount in the statements of income (see Note 22).Depreciation expense on certain assets amounting to P35, P11 and P11 in 2011, 2010 and2009, respectively, in the BDO Unibank Group financial statements, and are presented aspart of Occupancy under Other Operating Expenses account in the statements of income(see Note 22).www.bdo.com.ph 107
NOTES TOFINANCIAL STATEMENTSDECEMBER 31, 2011, 2010 AND 2009(Amounts in Millions of Philippine Pesos, Except Per Share Data or As Indicated)14. ALLOWANCE FOR IMPAIRMENTChanges in the allowance for impairment are summarized below.BDO Unibank GroupParent Bank2011 2010 2011 2010Balance at beginning of year:AFS securities P 5,811 P 6,526 P 4,526 P 5,432HTM investments 453 737 412 737Loans and other receivables 26,144 22,496 25,806 21,364Investment properties 1,940 1,271 1,837 1,253Other resources 8,540 8,111 11,512 10,89542,888 39,141 44,093 39,681Impairment losses - net 6,144 6,698 5,945 6,374Reclassification/write-off/foreigncurrency revaluation ( 7,397) ( 2,951) ( 7,164) ( 1,962 )Balance at end of year:AFS securities 2,950 5,811 1,658 4,526HTM investments 412 453 412 412Loans and other receivables 27,027 26,144 26,717 25,806Investment properties 2,275 1,940 2,168 1,837Other resources 8,971 8,540 11,919 11,512P 41,635 P 42,888 P 42,874 P 44,093Total impairment losses on financial assets amounted to P5,372, P6,141, and P5,261 in 2011,2010 and 2009, respectively, in the BDO Unibank Group financial statements and P5,225,P5,777, and P4,892 in 2011, 2010 and 2009, respectively, in the Parent Bank financialstatements.Total impairment losses on non-financial assets amounted to P772, P557, and P892 in 2011,2010 and 2009, respectively, in the BDO Unibank Group financial statements and P720,P597, and P883 in 2011, 2010 and 2009, respectively, in the Parent Bank financial statements.15. DEPOSIT LIABILITIESThe breakdown of this account follows:BDO Unibank Group Parent Bank2011 2010 2011 2010Demand P 48,499 P 45,445 P 36,059 P 33,489Savings 482,517 426,024 483,147 426,687Time 327,553 311,166 319,542 302,458P 858,569 P 782,635 P 838,748 P 762,634
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REPORT OFINDEPENDENT AUDITORSReport
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STATEMENTS OFINCOMEFOR THE YEARS EN
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BALANCE AT JANUARY 1, 2009 P 23,020
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FOR THE YEARS ENDED DECEMBER 31, 20
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1.02 Approval of Financial Statemen
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(ii) Philippine Interpretation IFRI
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PFRS 7 (Amendment), Financial Instr
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(v)PFRS 9, Financial Instruments: C
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BDO Unibank Group accounts for its
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Regular purchases and sales of fina
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Subsequent to initial recognition,
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Certain derivatives may be designat
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NOTES TOFINANCIAL STATEMENTSDECEMBE
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Page 57 and 58: NOTES TOFINANCIAL STATEMENTSDECEMBE
Page 107: NOTES TOFINANCIAL STATEMENTSDECEMBE
Page 149: COMPANY HEADQUARTERSBDO Unibank, In
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2011 Annual Report Financial Supplements - BDO

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