Bridgestone 2003 Annual Report Download - page 45

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43
2003 ANNUAL REPORT
NOTE 15—CONTINGENT LIABILITIES AND COMMITMENTS
Thousands of U.S. dollars
2003
Contract Unrealized
amount Fair value gains (losses)
Foreign currency forward contracts:
Sell:
U.S. dollar $314,543 $304,789 $9,754
Euro 335,228 350,938 (15,710)
Australian dollar 62,018 65,070 (3,052)
British pound 8,018 8,336 (318)
Other 47,326 48,072 (746)
Buy:
U.S. dollar 79,875 74,545 (5,330)
Japanese yen 12,882 12,695 (187)
Other 17,138 17,007 (131)
Interest rate swap contracts:
Floating rate receipt, fixed rate payment 248,278 (12,041) (12,041)
Floating rate receipt, floating rate payment — — —
Commodity future contracts:
Natural rubber:
Buy 3,174 2,875 (299)
(a) Contingent liabilities
At December 31, 2003 and 2002, the Companies had the following contingent liabilities:
(b) Operating lease commitments
The Companies lease certain land, machinery, vehicles, computer equipment, office space and other assets. The lease payments under noncancelable
operating leases at the years ended December 31, 2003 and 2002 are as follows:
(c) Litigation
See Note 17 for contingent legal liabilities in relation to the voluntary tire recall.
Thousands of
Millions of yen U.S. dollars
2003 2002 2003
Trade notes discounted ¥7,206 ¥8,105 $67,264
Guarantees and similar items of bank borrowings 816 968 7,617
Total ¥8,022 ¥9,073 $74,881
Thousands of
Millions of yen U.S. dollars
2003 2002 2003
Not later than one year ¥27,880 ¥28,976 $260,245
Later than one year 150,775 176,024 1,407,402
Total ¥178,655 ¥205,000 $1,667,647