NOTES TO <strong>FINANCIAL</strong> STATEMENTSDecember 31, <strong>2009</strong>, 2008 and 2007(Amounts in Millions of Philippine Pesos, Except Per Share Data or as Indicated)OthersThe <strong>BDO</strong> Unibank Group is also a defendant in various cases pending in courts for alleged claims against the<strong>BDO</strong> Unibank Group, the outcomes of which are not fully determinable at present. As of December 31, <strong>2009</strong>,management believes that, liabilities or losses, if any, arising from these claims would not have a material effecton the financial position and results of operations of <strong>BDO</strong> Unibank Group and will be taken up if and when afinal resolution by the courts is made on each claim.31.2 Leases<strong>BDO</strong> <strong>ANNUAL</strong> <strong>REPORT</strong> <strong>2009</strong>130<strong>BDO</strong> Unibank Group leases the premises of its head office and most of its branch offices for periods rangingfrom 1 to 15 years from the date of the contracts; terms are renewable upon the mutual agreement of the parties.Rent expense, reported as part of Occupancy under Other Operating Expense account in the statements ofincome, amounted to P1,651 in <strong>2009</strong>, P1,463 in 2008 and P1,391 in 2007 in the <strong>BDO</strong> Unibank Groupfinancial statements and P1,531 in <strong>2009</strong>, P1,386 in 2008 and P1,253 in 2007 in the Parent Bank financialstatements.The estimated minimum future annual rentals for the next five years follow:Year <strong>BDO</strong> Unibank Group Parent Bank2010 P 1,114 P 1,1072011 1,268 1,2612012 1,418 1,4112013 1,585 1,5782014 1,831 1,76531.3 OthersIn the normal course of <strong>BDO</strong> Unibank Group’s operations, there are various outstanding commitments andcontingent liabilities such as guarantees, commitments to extend credit, etc., which are not reflected in theaccompanying <strong>BDO</strong> Unibank Group financial statements. <strong>BDO</strong> Unibank Group recognizes in its booksany losses and liabilities incurred in the course of its operations as soon as these become determinable andquantifiable. Management believes that, as of December 31, <strong>2009</strong>, no additional material losses or liabilitiesare required to be recognized in the accompanying financial statements of <strong>BDO</strong> Unibank Group as a result ofthe above commitments and transactions.
NOTES TO <strong>FINANCIAL</strong> STATEMENTSDecember 31, <strong>2009</strong>, 2008 and 2007(Amounts in Millions of Philippine Pesos, Except Per Share Data or as Indicated)Following is a summary of <strong>BDO</strong> Unibank Group’s commitments and contingent accounts:<strong>BDO</strong> Unibank Group Parent BankNote <strong>2009</strong> 2008 <strong>2009</strong> 2008Trust department accounts 25 P 457,028 P 338,173 P 389,912 P 311,042Forward exchange sold 165,030 91,711 138,608 77,207Forward exchange bought 132,504 67,647 106,006 53,063Interest rate swap payable 25,016 15,838 6,383 4,083Interest rate swap receivable 24,986 14,753 6,383 2,997Spot exchange bought 3,410 6,645 3,364 6,241Spot exchange sold 4,037 3,326 3,991 2,922Late deposits/payments received 1,655 5,341 1,586 5,341Unused commercial letters of credit 26,492 17,998 25,845 17,998Bills for collection 4,209 10,641 4,209 10,641Outstanding guarantees issued 1,248 724 1,248 724Export letters of credit confirmed 44 49 44 49Other contingent accounts 96,619 78,708 95,800 77,890<strong>BDO</strong> <strong>ANNUAL</strong> <strong>REPORT</strong> <strong>2009</strong>131