2011 Annual Report Financial Supplements - BDO

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The fair values of government debt and quoted AFS securities (other debt securities andequity shares) have been determined directly by reference to published prices generated in anactive market. For unquoted AFS securities, the fair value is not reliably determinable eitherby reference to similar financial instruments or through valuation technique using the netpresent value of the future cash flows. Accordingly, unquoted AFS securities are carried atcost.Changes in AFS securities are presented below.BDO Unibank GroupParent Bank2011 2010 2011 2010Balance at beginning of year P 85,674 P 47,033 P 77,725 P 39,327Additions 400,320 487,648 397,304 485,044Disposals ( 399,954) ( 450,925) ( 396,247 ) ( 447,710 )Foreign currency revaluation 178 ( 1,803) 185 ( 1,793 )Unrealized fair value gains 846 3,020 1,096 1,951Impairment recovery - net 2,861 701 2,868 9069.03 Held-to-Maturity InvestmentsThe balance of this account is composed of the following:P 89,925 P 85,674 P 82,931 P 77,725BDO Unibank Group Parent BankNote 2011 2010 2011 2010Government debtsecurities P 83,240 P 90,514 P 75,312 P 82,202Other debt securities:Listed 9,625 13,035 9,625 12,681Not quoted 1,217 1,145 1,217 1,09894,082 104,694 86,154 95,981Allowance forimpairment 14 ( 412) ( 453) ( 412) ( 412)P 93,670 P 104,241 P 85,742 P 95,569On October 6, 2010, the BDO Unibank Group participated in the Global Bond Exchangeoffered by the ROP wherein certain U.S. dollar denominated government bonds due between2011 to 2016 were exchanged by the Parent Bank for newly issued U.S. dollar denominatedglobal bonds due 2021. The BDO Unibank Group and Parent Bank exchanged Republic ofPhilippine (ROP) bonds with face value of US$111.5 million and US$75.4 million,respectively. The fair value of the Benchmark bonds received by BDO Unibank Group andParent Bank amounted to US$134.6 million and US$94.1 million, respectively, resulting to again of US$18.8 million or P824 and US$16.6 million or P728, respectively, to be deferredand amortized over the remaining life of the Benchmark bonds. The total amount of gainamortized by BDO Unibank Group and Parent Bank amounted to US$1.73 million or P73and US$1.47 million or P64 in 2011, respectively, and US$0.41 million or P18 andUS$0.36 million or P16 in 2010, respectively, shown as part of Trading Gains – net presentedunder Other Operating Income in the statements of income.www.bdo.com.ph 91
NOTES TOFINANCIAL STATEMENTSDECEMBER 31, 2011, 2010 AND 2009(Amounts in Millions of Philippine Pesos, Except Per Share Data or As Indicated)Unamortized deferred gain from the transaction, which is included as part of UnearnedIncome under Other Liabilities account, amounted to P733 and P806 as ofDecember 31, 2011 and 2010, respectively, in the BDO Unibank Group financial statementsand P648 and P712 as of December 31, 2011 and 2010, respectively, in the Parent Bankstatements of financial position (see Note 18). As of December 31, 2011 and 2010,outstanding balance of the Benchmark bonds of BDO Unibank Group amounted to P5,863and P5,860, respectively, and of the Parent Bank amounted to P4,128 and P4,125,respectively.As mentioned in Note 25, certain government debt securities are deposited with the BSP.As to currency, HTM investments consist of the following:BDO Unibank GroupParent Bank2011 2010 2011 2010Foreign currencies P 77,940 P 84,361 P 73,092 P 79,168Peso 15,730 19,880 12,650 16,401P 93,670 P 104,241 P 85,742 P 95,569The maturity profile of HTM investments is presented below.BDO Unibank GroupParent Bank2011 2010 2011 2010Less than one year P 10,946 P 16,334 P 9,809 P 14,320One to five years 32,080 25,206 27,075 22,397Beyond five years 50,644 62,701 48,858 58,852Changes in the HTM account are summarized below.P 93,670 P 104,241 P 85,742 P 95,569BDO Unibank GroupParent Bank2011 2010 2011 2010Balance at beginning of year P 104,241 P 116,177 P 95,569 P 107,440Additions 12,205 25,446 10,589 22,632Maturities ( 22,746) ( 32,656) ( 20,344) ( 30,171)Foreign currency revaluation ( 72)( 4,653)( 72)( 4,300)Impairment loss (recovery) - net 42 ( 73) - ( 32)The fair values of the HTM investments follow:P 93,670 P 104,241 P 85,742 P 95,569BDO Unibank GroupParent Bank2011 2010 2011 2010Government debt securities P 94,799 P 100,405 P 86,528 P 91,667Other debt securities 11,233 14,840 11,233 14,508P 106,032 P 115,245 P 97,761 P 106,175
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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 41 and 42: NOTES TOFINANCIAL STATEMENTSDECEMBE
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COMPANY HEADQUARTERSBDO Unibank, In
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2011 Annual Report Financial Supplements - BDO

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