Bridgestone 2004 Annual Report Download - page 51

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49
Financial Section
Thousands of U.S. dollars
2004
Contract Unrealized
amount Fair value gains (losses)
Foreign currency forward contracts:
Sell:
U.S. dollar $432,857 $423,040 $ 9,817
Euro 461,539 474,455 (12,916)
Australian dollar 58,680 59,774 (1,094)
British pound 5,921 5,988 (67)
Other 62,048 64,466 (2,418)
Buy:
U.S. dollar 66,116 63,314 (2,802)
Japanese yen 6,832 6,602 (230)
Other 16,601 16,236 (365)
Currency swap contracts:
Indian rupee receipt, Japanese yen payment 13,454 (950) (950)
Interest rate swap contracts:
Floating rate receipt, fixed rate payment 227,924 (10,440) (10,440)
Commodity future contracts:
Natural rubber:
Buy 5,796 5,642 (154)
NOTE 15—CONTINGENT LIABILITIES AND COMMITMENTS
(a) Contingent liabilities
At December 31, 2004 and 2003, the Companies had the following contingent liabilities:
Thousands of
Millions of yen U.S. dollars
2004 2003 2004
Trade notes discounted ¥6,880 ¥7,206 $66,021
Guarantees and similar items of bank borrowings 687 816 6,592
Total ¥7,567 ¥8,022 $72,613
(b) Operating lease commitments
The Companies lease certain land, machinery, vehicles, computer equipment, office space and other assets. The minimum lease com-
mitments under noncancelable operating leases at December 31, 2004 and 2003 were as follows:
Thousands of
Millions of yen U.S. dollars
2004 2003 2004
Due within one year ¥ 28,177 ¥ 27,880 $ 270,387
Due after one year 160,005 150,775 1,535,409
Total ¥ 188,182 ¥178,655 $1,805,796
(c) Litigation
See Note 17 for contingent legal liabilities in relation to the voluntary tire recall.