2011 Annual Report - BDO

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14. ACCRUED TAXES AND OTHER LIABILITIESThe breakdown of this account follows:Notes 2011 2010Deferred gain onbond exchange 7 P 95,555,986 P 107,252,780Treasurer’s check 84,265,869 23,396,098Accrued expenses 35,555,902 46,153,824Retirement benefit obligation 19 29,844,943 18,457,224Accrued taxes 29,316,485 26,695,555Withholding taxes 15,647,590 14,211,158Others 51,275,354 24,783,634P 341,462,129 P 260,950,27315. EQUITY15.01 Capital StockCapital stock as of December 31, 2011 and 2010 consists of:Number of SharesAmount2011 2010 2011 2010Preferred shares – P1,000 par valueAuthorized – 1,250,000 sharesIssued and outstanding 1,225,000 1,225,000 P 1,225,000,000 P 1,225,000,000Common shares – P1,000 par valueAuthorized – 1,250,000 sharesIssued and outstanding 940,000 940,000 P 940,000,000 P 940,000,000As of December 31, 2011, the Bank has one stockholder owning 100 or more shares.15.02 Preferred SharesThe following are the features of the Bank’s preferred shares:(a) The Board may specify the terms, conditions, qualifications, restrictions and privileges ofthe preferred non-voting stock. All preferred shares shall be of equal rank, preference,priority and shall be identical in all respects regardless of series.www.bdo.com.ph 95
NOTES TOFINANCIAL STATEMENTS(b) The holders of serial preferred stock shall be entitled to receive dividends, when, as andif declared by the Board out of funds legally available and not before any dividends onthe common stock shall be paid or set apart for payments.(c) The holders of the preferred shares shall not be entitled to vote at any meeting of thestockholders for the election of directors or for any other purpose or participate in anyaction taken by the Bank or its stockholders.15.03 Common SharesThe Bank has an authorized common stock of 1,250,000 voting shares with a par value ofP1,000 per share.15.04 Unrealized Fair Value Gains (Losses) on Available-for-sale SecuritiesThe reconciliation of the unrealized fair value gain (losses) on available-for-sale securitiesfollows:2011 2010Balance at beginning of year (P 46,417,271 ) (P 44,464,048 )Unrealized fair value gain ( 28,930,920 ) ( 24,581,603 )Transfer of realized fair value losses (gain)to statements of income for thepreterminated AFS previouslyreclassified to UDSCL ( 203,465 ) 19,404,708Amortization of unrealized fairvalue losses 8,985,558 9,483,508Transfer of realized gain (loss) to statementsof income on disposal of securities 47,375,592 ( 6,259,836 )Balance at end of year ( P 19,190,506 ) (P 46,417,271 )
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TABLE OFCONTENTS246Corporate Missio
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OUR COMMITMENTOur commitment to pro
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We remain steadfast in our vision a
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The Storywww.bdo.com.ph 9
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• Execution. If you are more of a
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ELIZABETH T. SY,Director59 years ol
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ADVISERSHarley T. Sy Ian T. Fish Ra
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CORPORATEGOVERNANCEBDO Private Bank
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CORPORATEGOVERNANCEChairman: Nestor
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Awardswww.bdo.com.ph 23
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Best Private Bankin the Philippines
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REPORT OFINDEPENDENT AUDITORSTHE BO
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STATEMENTS OFINCOMEFOR THE YEARS EN
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STATEMENTS OFCHANGES IN EQUITYFOR T
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www.bdo.com.ph 33
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2.01 Basis of Preparation of Financ
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2010Notes FRSP Difference PFRSChang
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Bank is not subject to minimum fund
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losses on AFS, can be reclassified
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i. only in rare circumstances and i
Page 46 and 47: together with the host contract wit
Page 48 and 49: If there is objective evidence that
Page 50 and 51: Bills payable are recognized initia
Page 52 and 53: In considering each possible relate
Page 54 and 55: translated into the Bank’s presen
Page 56 and 57: Deferred tax is provided, using the
Page 58 and 59: • The Risk Management Unit is res
Page 60 and 61: 2.15.02.01 Foreign Exchange RiskThe
Page 62 and 63: The following table shows the amoun
Page 64 and 65: 2011More MoreOne to than three than
Page 66 and 67: 2010More MoreOne to than three than
Page 68 and 69: The following table sets out the cr
Page 70 and 71: December 31, 2010Loans - Trading an
Page 72 and 73: The Bank’s lead regulator, the BS
Page 74 and 75: 3. CRITICAL ACCOUNTING ESTIMATES AN
Page 76 and 77: Details of impairment losses (recov
Page 78 and 79: payable) with repricing frequencies
Page 80 and 81: and any resulting impairment loss c
Page 82 and 83: from 0.0% to 9.13% per annum in 201
Page 84 and 85: 6.01 Collateralized Debt Obligation
Page 86 and 87: P9,483,508 in 2011 and 2010, respec
Page 88 and 89: this transaction amounted to P84,58
Page 90 and 91: In 2010, the Bank has assessed two
Page 92 and 93: A reconciliation of the carrying am
Page 94 and 95: Interest rates on deposit liabiliti
Page 98 and 99: 15.05 Surplus ReserveIn compliance
Page 100 and 101: Changes in the present value of the
Page 102 and 103: Assumptions rgarding future mortali
Page 104 and 105: 21. TAXES21.01 Current and Deferred
Page 106 and 107: The Bank is subject to MCIT which i
Page 108 and 109: The composition of the Bank’s AUM
Page 110 and 111: www.bdo.com.ph 109
Page 112: PRODUCTSAND SERVICESWEALTH ADVISORY
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2011 Annual Report - BDO

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